Tom,
While I agree with the general premise that most courses wouldn't have the funds to do extensive earthmoving, many did and I have always been of the opinion that there was more earthmoving done than most get credit for.
Its not just Lido and a few others that prove it could be done. Look at other earthworks of the times, like railroad building (esp. raising tracks after 1900 to minimize traffic conflicts) to see that engineers weren't adverse to moving earth when required, and sometimes lots of it. Granted, golf may not have justified the expense, but most Golden Age courses were built for men of means and they probably had the same spare no expense attitude that Trump, Wynn, etc. have now.
I think the earthmoving was different back then. For example, I think I have seen the exact same fw contours at Beverly 11 and White Bear YC No. 2 from Ross. I think both were graded for visibility but the cuts came from the nearby roughs, rather than a central irrigation lake.
I see similar cuts and fills in LM work, at Wakonda, among others. I think the Winged Foot Open program listed some construction quantities for that course, and if I recall right, the earthmoving was like 60,000 CY. Nothing like today but nothing to sneeze at, either, unless you have a cold!
Getting back to Pac Dunes, it sounds like your philosophy of moving it only when needed and moving it short distances sounds a lot like the Golden Age. But, then again, I think most of us build the same way, mostly because on our budgets, we have to, whether we want to or not.
Jay Morrish calls himself a (retired) necessitist.