GeorgeP:
The Golf Club at Thanksgiving Point plays from the tips 7,728 yards and if necessary you can stretch it a bit further to compensate for the higher elevation. I agree with JohnC other elements of prepping can be added with other elements to test the big boys.
I'm not saying the course is the "perfect" option for an Open but what is?
Even Bethpage Black (a course I love very much) has issues with a number of greens being flat or relatively unchallenging.
I believe if you played Bandon from the tips and changed the two par-5's on the back side you would have a good test -- a par-70 in the range of 7,200 along the unrpedictable coastline of Oregon! WOW!!!
The issue at Bandon? Having the wherewithal to have support facilities for what a modern day Open has. I personally think it's worth doing. Years ago the same argument made about Pinehurst #2 (remote location, June weather in the South, blah, blah, blah). Now, Pinehurst is fixed on the unofficial rota.
Bulle Rock is also a possibility but I wonder if the USGA will stage an Open event on a Dye course? I know there are some people (i.e. Mike Cirba, among others) who don't particularly like the course.
I agree with Bill V that higher altitude locations do present issues but it's not impossible. I mean let's not forget the USGA has used Cherry Hills and the last time they were there the winning total was 285 at the '78 Open (remember Andy North!) and the '85 PGA (Hubert Green) with a 278 total.
GC at Thanksgiving has the issue I stated before -- no Sunday golf permitted but if St. Andrews could make the adjustment I see no reason why it could not be done here.
One last note -- when people say Torrey Pines / Soth is 7,600 yards I always wonder are they really playing the ENTIRE course or is that figure more for PR hype? Usually, many of the tour events I've ever seen have not played the max on all four days. The tour staff do make concessions to weather and other considerations (let's not make it toooo hard!).