Mike,
I agree with most of your sentiments. Arnie, the King, unfortunately hasn't produced a lot of great golf courses, IMHO. Bay Hill is by far his best, and yet it wasn't his original design.
Gary, as I stated above, has yet to produce any "great" golf courses that I have seen.
Jack's designs range from the awful to some of the best, although, as you infer, a lot of it is just eye-candy. I think he may have hit his stride with the Bear's Club, a course which I liked obviously a lot more than some here on GCA. To me, you no longer had to play a high-fade to enjoy this course (of course, I play a low-draw, so I haven't had much success on his courses!). The Bear's Club was much more fair in that draws worked on some holes, and fades on others.
If the "trend is your friend", then Jack may on the right track!