From the Web, with all the assurance provided by that source.
History Lesson
So where did this order of operations come from? Whose fault is it? =^)
1646 - In Van Schooten's 1646 edition of Vieta, B in D quad. + B in D is used to represent B(D^2 + BD).
1800s - The term "order of operations" was starting to get used in textbooks. It was used more by textbooks than mathematicians. The mathematicians mostly just agreed without feeling the need to state anything official.
1920s - In this time period, the mathematicians were debating about whether or not multiplication should take precedence over division. Although they'd still argue over who won this argument, today it's become most common (and taught predominantly) that multiplication and division are equal, read from left to right. The reasoning is to keep it simple and to let the parentheses do it's thing!
1960s - As mathematicians began writing books about algebraic notation, they basically agreed on the idea that multiplication would take precedence over addition. It's a natural hierarchy that lends itself well to writing polynomials with as few parentheses as possible. So at a time when the authors of these books on mathematics had to begin their book with a list of conventions... it wasn't needed on the basic order of operations... they all seemed to have agreed.
You'll still find textbooks that don't fully agree with each other, but the basics are commonly set now, and the world is full of order and peace, thanks to the Order of Operations!
This actually agrees fairly well with what I understood. These conventions have simmered for quite a while, but the definitions have only stabilized in the last century. The importance grew dramatically around the 1950-1960 time frame when computers came along and multiplied the consequences of mistakes. Until machines got in the act a misunderstanding didn't propagate very far before it became obvious and could be corrected.
I think Brumby said it best. There is still enough confusion in this (clearly demonstrated by the number of internet polls on the result of some sequence of operations and by Excel and APLs choice of going another direction) that if you care about the answer being determined correctly use parenthesis as required. Even if there is one true way to do precedence the odds are high that someone out there will not understand them or use the same rules. We use checksums and error correcting codes to ensure correct communications. Parenthesis serve the same purpose. Extras symbols, but correct transmission.