George,
I love this thread. And I love the "Ordinal/Integral" aspect of the game. I've been on both sides of the equation (i.e. the one beaten by an "inferior" player and the one beating a "superior" player). I only wish that I got to play more quasi-competitive rounds these days because with my distance and accuracy losses combined with greater patience and willingness to be creative with shots, I'd love to be giving long-hitting, superior players some heartburn.
While the importance in putting is huge in this aspect of the game, I think that the importance of course management, expectation management, and "picking one's spots" cannot be overlooked. The ability to "play to one's strengths" is as important as knowing one's limitations. And it's a fun, proactive, an non-defensive way to play the game. (I think instructors and magazine articles focus way too much on playing defensively rather than focusing on one's strengths) Everyone should be going out there trying to kick some ass, rather than to stop the bleeding.