I think Matt summed up what I prefer, something in the middle. Not a boring throwaway hole simply to get you going, but not so difficult that you haven't had a chance to get a rhythm going. I certainly would prefer there not be OB or a forced carry on the first hole.
I think Plainfield has an outstanding #1. A solid par 4 that sets the tone for the day, but doesn't wring your neck if you aren't hitting the ball solid yet. Other opening holes I really like are at Rustic Canyon, Pebble Beach, Kingsley, Crystal Downs, Sand Hills, etc... None of these holes is easy, but they aren't going to break your back right out of the gate. Well maybe CD will, but every time you stand on that tee it just feels like a great starting hole.