1)  The podcast was pretty good.  I didn't love the cutaways-of-sorts, especially the one with the recipes.  I liked how it was split into the early and late trade eras.

2)  In the early trade, the Jews and Arabians were able to reap huge profits by completely hiding their suppliers from the Europeans.  In the late trade, a sad accident led to Europeans finding "New World Spices", such as chili, and, as part of a long series of events, the Dutch losing a little island near the New Jersey coast.

3)  I feel that the contemporary significance of this, or at least part of it, is to show how history could change based on just one decision, made by just one or a few people.  This is especially apparent in the case of the Chinese not expanding on what could have been a sizable lead in the spice race, and in the Europeans massacring and conquering what could have blossomed into world powers.

And, ya know, that island near New Jersey.