I actually played both courses at World Woods yesterday (greens fees for 36 and cart was $115). I play up there about 5 times a year (less than an hour from my home in downtown Tampa). I can honestly say that the conditioning of the golf course was the best I have seen in years. Pine Barrens was fantastic, playing fast and firm. The greens rolled very nicely.
Rolling Oaks was also in good shape, with the greens a bit slower however.
I had read the speculation about MK before heading up and spent a better part of the afternoon daydreaming about the idea of WW becoming a world class resort. While some have mentioned "understated" and "no snobbery, " the place clearly needs an overhaul. The dining area is actually unsanitary, as the same sweaty golfers have been sitting in the cloth chairs for the last 12 years, deciding between chicken strips or a hot dog.
The chance to have some cabins with some nicer dining options would be extremely attractive to most in the area.
I would say that both courses are very walkable. However, the idea of walking 36 holes in September is virtually unfathomable. The heat is just oppressive, with virtually no breeze to speak of that time of year. I am younger and have run a couple of marathons in the last year, but doubt I could walk 36 holes that time of year.
Lastly, I would estimate that almost all rounds (save for July -Sept when fees are $25 and the chance of a rain out is at least 50%) played at WW are from people who "road trip" it. As we arrived, most of the automobiles were SUV's with 3-4 guys spilling out of them. I would imagine that the local market of Hernando county doesn't account for many rounds. Additionally, there is enough golf in the area (Dunes at Seville, Brooksville CC, etc.) that offer cheap green fees year round, that an upscale resort with upscale pricing would not affect the local golfer.