The choice of 48 bits for the hardware/station address seems to have been a pretty good choice: it's been 40+ years and we still have no run out. I'm curious to know if anyone has done the math on when Ethernet address exhaustion will occur.
While the Ethernet frame has been tweaked with over the decades, addressing has been steady. Curious to know if any transition will ever been needed and how would that work.
In hindsight, IP's (initial) 32 bit address was too small, though for a network that was (primarily) created for research purposes, but ended up escaping 'into the wild' and accidentally becoming production, it was probably a reasonable choice: who expected >4 billion hosts on an academic/research-only network?