Mike,
I don't see it that way.
The developer has to be the visionary.
He's the one that selects the architect, and in most cases, he's visualized or conceptualized the product he wants to offer, hence, the architect will do HIS bidding.
While the best combination is a quality developer and a quality architect, I think it all starts with the developer.
Sand Hills, Bandon Dunes, Pacific Dunes, Bandon Trails, Old Macdonald, Hidden Creek, Ballyneal, Friar's Head and others all had quality developers.
Off the top of my head I can't think of a well respected golf course where the developer didn't have a clue.
Maybe there are some, but, none come to mind at the present time.