Just arrived home from a week spent in Keystone, Colorado. On the way out, we stopped at Dismal River and played 36 holes and then while in Colorado I played 45 holes at The Raven at Three Peaks, in nearby Silverthorne. Thanks for the recommendations, as I found The Raven a lot of fun and in great condition. The staff is very professional and extremely accommodating in every regard. I really like their approach as this semi-private club offers guests. "All inclusive" greens fees includes cart (w/ gps), meals (breakfast & lunch), snacks, and bottled water or other non-alcoholic drinks.
The Raven is a lot of fun, and quite challenging. The back 9 really gets it going as things get really good on #11 and strong holes continue all the way to the finishing 18. The Black tees play 7400 yards, but the course is at over 8000 feet so the ball really flies up there. The #9 par 4 is 519 yards but actually plays medium length as it's a big drop down---I think the longest club I hit into the hole was a 7 iron (from about 195 yards). This was the first Lehman designed course I've played, and I feel it was very good golf architecture.
Dismal has been discussed on this site extensively in other threads. While I prefer Sand Hills over Dismal, I will say that Dismal exceeded my expectations. It's a bit "extreme" (similar to The Castle Course in St. Andrews), and will probably receive further "softening" of some green complexes in the future. The area has received extensive rainfall this season, and the course played quite soft and would be even more enjoyable when the turf firms up.
Thanks again for the advice, as The Raven ended up being my course of choice in the Keystone area. I liked it so much I didn't venture to any other course, but instead focused my efforts on posting a respectable score at The Raven.