John B -
A 2? C'mon. Just judging the architecture, the course is at least a 4.
The course has deep, strategically placed bunkers. For example, on #4, a longish par 3, the front bunker coupled with the firm greens force you to think about how to attack the pin when it is in the center of the green. Because a high straight shot at the pin is likely to either find the front bunker or bounce over the green, one starts thinking about either fading it or drawing it towards the pin and using the green's horseshoe shape.
On the par 5, #5, if you cannot get to the green in two, you have to critically think about where you want to place your third shot. Farther back puts you at the bottom of a valley which gives you a semi-blind approach. If you try to place it closer to the green, you bring the deep bunkers into play and potentially put yourself in a position where it will be difficult to stop the ball near the pin.
On #12, the par 5 has an almost redan-like green which slopes to the left and falls away from you. A fronting bunker requires that you place your approach to the right side of the fairway to play the easiest approach. This is a running-right to left pitch that feeds down the hill to a back left pin placement.
There is clearly more strategy than just the above holes, but I think, that the above merits the course at least a 4. Monarch Bay possesses a lot of the things which we like at GCA, deep 1/2 stroke penalty bunkers, green complexes which dictate ball placement in the fairway, firm greens. However, the fairways are just awful, which take away from the strategy. Even so, there is still a fair amount of thinking that a golfer needs to do out there.
Mike & Ed - Incidentially, on #12, I was trying to hit the drawing pitch shot to the front of the green that released to the pin, I just hit it too hard!