Just like you can craft iron and gold into blocks, I think it should be possible to craft redstone into a block. Once you get to the lower levels, you end up mining quite a lot of it, and it takes up a lot of space in your inventory. Perhaps since the normal form is dust, it should be affected by gravity. I think it would be cool to have a bright red block other than wool, anyway. I think this is simple enough that it couldn't hurt to be added.
There may also be some kind of circuitry application for such a block, though I don't know what it would be.
Here, have a better idea to work with: (I just copied one of my posts from another topic about redstone blocks)
I had this same idea myself, but a much better version.
= Redstone dust
= Redstone block
Texture: Looks like Lapis Lazuli (Solid Block form), Except that it is red instead of blue.
Light level (when active): 12
Activates in all the same ways as redstone ore, such as stepping on and hitting. When it does activate, it lets out light, (level 12) and electricity. This makes it a glowing and awesome looking (and silent :biggrin.gif:) version of a pressure plate.
There may also be some kind of circuitry application for such a block, though I don't know what it would be.
How to not die in a cave