Jeff:
Drainage...maybe yes in the manner that they/we are forced to consider/use drainage at a different scale and level of detail with permitting issues, etc. but I think the golden guys understood drainage quite well and perhaps much better at the surface level than many modern guys, you excluded of course
The golden approach, as we find so often used the natural contour so well for surface drainage in all types of situations from tee to green and they simply didn't turn to the subsurface approach so quickly as a design feature, or as an escape as it is done nowadays, and not for the better IMHO.
Technical aspects...here again I guess so, but that isn't to say that the engineer (architects) during that time period who in fact did understand these aspects quite well I believe, but maybe didn't have the budgets, and of course the flexibility of materials of which to solve certain technical issues.
I am no where near as personally experienced as many here with regard to actually seeing all of the great tracks from the golden period, but I have seen a bunch and read about a whole bunch more and I am not so certain they really had too many difficult sites to work on, by that I mean topographically challenging with steep slope and ravines, etc. Now, don't everyone jump all over me, I'm sure those sites are of course out there, but generally speaking, is it fair to say that during more modern times, architects have been faced with considerably more challenging sites on many levels.
Consideration of all Players...I think you may be right, but isn't it incredible in so many instances that just about anyone can walk up to one of those great golden classics and play the course and be challenged, have a whole-lotta fun and never get bored...guess those old guys knew somethin inherent about many golfers. That is why so many stand the test of time...excluding the great wisdom the PGA and USGA have frought over the past 25 years with "improvements"
Alcohol consumption...well now this is getting personal, but based on original documents I have seen of Thompson, Tillinghast, Emmett and a few others, you may be on to something...perhaps they were more creative as a result (or the secret we have all been looking for) and I should change my future approach with a stop to the local liquor store before my presentation next week