Wouldn't softer contours on faster greens allow gravity to move the ball around in the same way as would bolder contours on slower greens? It would appear that the case for slower, more undulating greens is aesthetically (not practically) driven, since you can ramp up softer greens (provided they're well-designed) in pursuit of the same results.
Also, I'd argue that faster greens require a better putting stroke. It takes a lot worse touch to hit a putt four feet too far on greens that stimp at 8 as opposed to greens that stimp at 11. This also means that more break needs to be played on the faster greens, relatively.
Is this all about going back to the "roots" of the game? Is it the prevailing sentiment that just because there wasn't technology to maintain faster greens 100 years ago, we shouldn't try to capitalize on that ability now? I'm not sure I agree with that.
The W&L golf team practices at two courses, primarily: Lexington G&CC and Vista Links--one older, one much newer. Many of the greens at Lexington have a lot of contour--so much, at times, that they can't be maintained terribly fast. The more undulating greens are fun to putt on, but on days like Thursday, when they seemed too slow, it was just tedious. At Vista Links the greens have less contour, but they're typically faster. Becase it's a town-owned course, they don't ever get really fast, but when they're at they're peak, the blend of speed and contouring is at least as enjoyable (probably moreso) than at Lexington, IMO.