Sean-
The Ponk is a good candidate for restoration, even though the Ross 9s are split between course 1 and course 2.
The first issue would be the playing surface and drainage, of which there isn't much there now. Almost every hole not in view of the clubhouse has potholes in the fairway, and the 7th is usually played as a 260-yd par 4, even though it was designed at 410-420. The fairway lies so low here that they cannot maintain it as anything other than wetland.
I haven't played the Ross 9 on the #2 course, but on the #1, there are a couple holes where their design does not help their maintenance or playability, #18 in particular. I've always thought an original refurbished Ross 18 at Ponky would be good, but not as great as all the "USGA Bethpage-US Open program" rumors may indicate. They certainly would have the room to host a huge tournament though.
Personally, I'd love to see a sprucing up of George Wright, which has began a program by firing the former management company (Johnson Golf, bad reputation in eastern MA), and beginning a Friends of George Wright group. This course, while only 65-6600 yards in length, could easily be among the top layouts in town if it had the money and a bit of work done. The greens aren't as wild as Brae Burn, TCC, or Salem, but the design is there. Not to mention the bones seem to be very intact.
Franklin Park has come a long way in making a playable product, and is a great take, although it too needs a pruning here and there, especially on #16. It's a more historical-experience course at 6000 yards, but a good model for any city muni.