A number of courses around Louisville and central Kentucky have converted to zoysia. Two prominenet Louisville clubs- Big Spring and Hurstborne were renovated in the last two years and now have zoysia.
My experiences are 1) it will trap water and plays very wet for a while after a good rain; 2) the ball lies very cleanly on top of the grass which helps create a lot of spin- too much in some cases; 3) about ten years ago Cincinnati suffered through a terrible year for grass- hot, humid, and very dry. Courses were losing bentgrass fairways and bluegrass roughs left and right. Hyde Park CC's greens and roughs really suffered, but its fairways- zoysia fairways- were perfect. (As a side note, rye fairways did well also, as long as the mowing heights were high enough to protect it.)
I am no agronomist, or even a green thumb, but I understand that zoysia is both difficult and expensive to grow in.