Jeff,
I recently re-did my course and I also wanted to create a course that "good golfers" would rave about. I think that for better (and usually) for worse, golfers often look up to or defer to better players regarding what is a good course. I do think that while they are a very small percentage of golfers, they do shape alot of local opinions.
Good, low handicap golfers want a "tough but fair" course. They love a course that looks tough but plays easy. Most are not really scratch players but like to think of themselves as "almost pros".
They want fast greens but "receptive" greens. They have always just played a friends course "where the greens were rolling a 13"
Firm fairways, "consistent" bunker sand that never plugs and that is a little on the firm side. Never make a "good golfer" hit a wood on a par 3!
They don't like long par 4s much if it makes them hit more than a 5 iron into the green. They love length if it can be neutralized--downhill. They like courses long on the scorecard that play shorter. They love "risk/reward" holes and reachable par 5s.
They hate blind shots and they feel that fairway bunkers should always allow you to reach the green with your next shot.
They like definition for the tee shots, but the rough should be minimal. Yardage markers are important. Pace of play is important--they would all play in three hours if the group in front would let them!
Seriously, range balls are important and they want good practice targets and a nice short game area. Also, while I think the trend is about dead, most of the requestsI get for a mens' only grille is from my "better" players. They want a patio area where they can look out over the course.