A conceptual circle and a real circle differ markedly because of the lumpiness of matter, quantisation, uncertainty. Every real circle is an approximation (yay Plato!).
Pi doesn't appear to me to be real, as in writ in matter/energy -- it's a ratio of measurements of an imaginary article, circles don't exist in our experiential 4-space.
Irrational numbers like root-of-2 just fall out of basic maths though, there's not going to be a real line with that measure just as there's no line with a predefined unit measure (ie unless you define that line at that point in time as your unit, but a real line isn't even straight).
I'd be really interested in refutation of this -- it's one of those positions I've held since Uni, at least, but never explored as I've never seen it challenged/supported nor named.