Phil and Matt,
I agree with Doak about having a great short par-4 on every world-class golf course, although I don't think it's a necessity. Short par-4's are normally the best designed holes on the course, and BB doesn't have one. That's why all the rumors were swirling about moving the tee up on No. 6 and making it drivable (about 340, downhill). Of course, because that's not the way the hole was designed - and if the tees were moved up, it's STILL a stupid play to go for the green - it's unlikely that will actually happen. It's smart to cut the side of that hill to fairway, which Davis has decided to do, this way making it a bit more inviting for someone to hit a three-wood over the left bunker. But even that's kind of a dumb play. Point is, there is no good, short par-4 on BB and it's a glaring deficiency (which is hard to say for someone who loves the course as much as I do).
As for No. 2: take that hole out of BB and it's a great hole. In the midst of BB, it's a weakling. But think about it being in the middle of any other muni - really, just about any other course, period - and it might be the best hole on the course. It's a interesting tee shot, having to move the ball right-to-left and avoid tree and rough trouble on both sides and give yourself a clean look from the left side of the fairway. The approach is up the hill, with bunkers everywhere, and the only miss is long - which is almost impossible to do, considering how non-uphill it looks. If you do hit your wedge on the green, it should be a three (flat green), but who said a hole is bad if it's birdieable? I almost wish there were more holes like No. 2 out there. They could also move that tee back, and they haven't (yet, thank God), keeping the ENTIRE course from being 500-yard par-4's.
In terms of great stuff to watch for, how about just sitting at the 15th green and watching the best in the world look like weekend hackers - from one side of the green to the other, rolling putts off the front, etc. And, of course, if you know how tough that green really is, I'm sure you'll see some shots that might not look spectacular - chips to 10-15 feet - that you know are absolutely great.
And, whether you like the guy or you don't, hearing the roars for Mickelson, no matter what he shoots, is going to send chills down everyone's spine.