Glenn, this does not quite answer your question, but I found some more information on Palmer's round at Pine Valley. This is from a book called, "Wanna Bet":
"Pine Valley Golf Club has a storied place in golf history as one of the finest courses in the world, but it also played an important role in Arnold Palmer's long and happy marriage to Winnie.
Palmer was just out of the Coast Guard and had a fine reputation as an amateur golfer. He had heard a lot about Pine Valley but had never played the course. One day he was invited to play but his friends warned him not to expect to score very well on his first attempt.
Now at the time, Arnold very much wanted to marry Winnie but didn't have the money for a nice engagement ring. As luck would have it, his friends offered him a bet: for every stroke over 80, Palmer would have to pay them $100, but they'd pay him $100 for every stroke under 80.
Happily, Palmer turned in a smooth 68, pocketed $1,200, bought the ring and lived happily ever after."