Richard,
I haven't played Olympic, so I really can't compare it, but I do think Indian Canyon is very deserving. IMO, IC is what this category should be all about...high quality layout, interesting holes throughout, great greens, undulating fairways, reachable 5s and 4's, and dirt cheap to play.
Matt,
South Mountain is owned by Salt Lake County and would certainly seem to qualify in the muni category as I understand it. As for the Hiedout, I only played it once and maybe I got lucky, but the course was in terrific shape.
No doubt these kind of lists can be questionable, but I think the exposure is good for the state of Utah in general. I've yet to travel anywhere that has such a big selection of quality public courses that are very inexpensive and easy to get tee times for. Even most folks here have no clue how good they have it.
And this leads me to another huge factor that should be considered which is cost. Yes I know other areas of the country have a much finer selection of public courses then here, but at what price? Outside of Thanksgiving Point, I can play every other course here in peak season for less than $50, and most of those for less than $30. Where else in the US do you have 15-20 quality public layouts within a 35 - 40 mile radius than can compare with these prices?