THE GIANTS WIN THE PENNANT!! THE GIANTS WIN THE PENNANT! THE GIANTS WIN THE PENNANT! THE GIANTS WIN THE PENNANT! Bobby Thomson hits into the lower deck of the left-field stands! The Giants win the pennant and they're goin' crazy, they're goin' crazy! HEEEY-OH!!!'' Yup, nobody remembers, at any point. I can assure you I remember the Bash Brothers winning pennants but only 1 world series ... or both Texas teams winning pennants, but not the world series ... or the Braves winning pennants but only 1 world series ... etc etc
Also, when the Sox won the 1959 AL pennant, Mayor Daley, who was a big fan, ordered the air raid sirens to go off in celebration of that "meaningless" pennant. The entire city went into panic thinking they were getting bombed. More fans flooded Midway Airport to greet the pennant winners that night, than were there years later in 2005 when the Sox returned from Houston with the World Series trophy.
I think winning a pennant is a big deal simply because it's still a difficult feat to accomplish. But I don't think it's as big a deal as it used to be. Baseball is no longer as popular as it was back then, and the perception of the major leagues has changed as well. They're no longer viewed as seperate entities operating under the umbrella of Major League Baseball. Nowadays the American and National Leagues are no different than the Eastern and Western Conferences of the NBA or NHL.