Bill,
St. Andrews is an outlier because its more like a municipal course than a private (for-profit) entity. From an economic standpoint, it only needs to make enough money to support itself. Pebble Beach and others have to generate profits. Ueberroth, Eastwood, Palmer, et al did not spend that kind of cash to break even every year. I have to fess up that I played Pebble last year, but it was on someone else's dime. I assume that much of the play at Pebble is once-in-a-lifetime players or those on corporate expense accounts.
Wayne,
You wisely point out that those of us with a membership at private clubs likely pay as much per-round as these higher end resorts are charging. I played my first round of the year in March and the first question my wife asked me when I got home "How was that $1,000 round of golf?" This coming from someone who would gladly drop even more than that on a handbag if she knew her husband wouldn't hit the roof.