Consider an electrical network modeled as a planar graph G, where each edge represents a 1Ω resistor. How quickly can we compute the exact effective resistance between two vertices in G? Equivalently, how quickly can we compute the exact current flowing along each edge if we attach a 1V battery to two vertices in G?
Kirchhoff's well-known voltage and current laws reduce this problem to solving a system of linear equations with one variable per edge. More recent results — described explicitly by Klein and Randić (1993) but implicit in earlier work of Doyle and Snell (1984) — reduce the problem to solving a linear system with one variable per vertex, representing that node's potential; the matrix for this linear system is the Laplacian matrix of the graph.
Either linear system can be solved exactly in $O(n^{3/2})$ time using nested dissection and planar separators [Lipton Rose Tarjan 1979]. Is this the fastest algorithm known?
Recent seminal results of Spielman, Teng, and others imply that the Laplacian system in arbitrary graphs can be solved approximately in near-linear time. See [Koutis Miller Peng 2010] for the current best running time, and this amazing article by Erica Klarreich at the Simons Foundation for a high-level overview. But I'm specifically interested in exact algorithms for planar graphs.
Assume a model of computation that supports exact real arithmetic in constant time.