Speaking as a 20+ handicapper (well I was at the time) who played the old course. Some higher handicappers can play but are just not as consistent (or can't putt in my case) as others.
For instance in my one and only round. I lined up at 0530 on a very brisk morning. 5th in line. At 0705 I was informed I was away at 0710. By the time I stepped onto the tee I was so stiff and cold I was ready to snap. I started the round 6, 8, 8, 8. And by that stage my international crew (a Swede, A Canadian and an American - there's a joke in there somewhere) must have been considering my credentials. From there on in I had 5 pars, 7 Bogies, another snowman and a Birdie
What I disliked about the experience was being rushed by the marshals on the first 5 holes. Obviously when you are starting a round as badly as I was the last thing you need are marshals on your tail saying hurry up. I don't think I had one practice swing in the first 5 holes.
Also the american amongst us saw fit to while standing on the 7th tee and watching the acrobatics of a RAF jet above point up and say "You know, In Amercia we call that the sound of FREEDOM." This is my nomination for the most inane comment I have ever heard. Especially amongst the Iraq War and the fact he was surrounded by people from countries that were against or at least severely divided over the hostilities there.
On the plus side:
Walking the course on the night (A Sunday) before. I was a wonderful experience to just wander the course. Also this was at a time before I had found this site and thought about golf courses on much more than a superficial level.
I birdied a hole, not an every round occurrence for me.
Playing into hell because it was blind and I got my yardages wrong. Getting to my ball and realising there wasn't a hope in hell of extricating myself forwards from this pit. Giving it a go anyway. Failing heroically (twice). Taking my medicine and finishing the hole with a smile to accompany my snowman.
The way memories of the last few holes re-emerged due to Open telecasts I had seen. The sense of de-ja vu playing these holes as I had seen on t.v. and the knowldege that the next time I saw The Open at St Andrews it would hold greater significance to me.
Having an 8 foot putt for bidie on the road hole. The pin tucked up behind the bunker ( A left handers fade is useful for some things
I then beautifully 3 putted for bogey.
Seeing the shock on the face of the american's caddie when I slipped him 5pounds for his help to the rest of group. I now realise that it wasn't the fact I was tipping him but the fact he was actually receiving a tip from one of those tight arse Australians..
Without even thinking of the architecture it was a great experience spent with 3 strangers I enjoyed the company of and 1 I didn't.
On balance I definitely was not underwhelmed.