Jim, this really seems spectacular and so totally influenced by your deep affinity to Ballyneal. So far, I'd have to say your's and Ed's are the two that really capture my attention the most. Not to put down the others efforts and concepts. But, it just seems to me that the concepts and reality of their vision of how this property might be in terrain and characteristics most fit with Ed's and Jims, IMHO.
I do wonder about the watercourse. The routing of 16 through the oxbows and acute turns seem to me to be a disaster waiting to happen in a heavy flash flood or heavy rain event. I think the allure for the AAC to route a split or multiple FW offering preferred sides and crossings that play into the field of play might overshadow the engineering realities of how to handle water flow.
I love the concept behind 10 with the blind right side carry to a favored approach. But, I might give it more favor at the green with moving that bunker cluster on right of green back to the right further and making it one bunker, While expanding the pregreen mid FW bunker on the approach line from the safe left FW. As to 4 being too straight forward, I think the length is the challenge, yet I might think of more forgiveness in the first LZ carry by expanding the FW to a bit infront of the carry bunkers off the diagonal tee ball to the LZ. The length of the second to a narrower layup area, and the total length to the green makes this a potential easy bogey fairly hard par, and nearly impossible birdie except for the really big bangers. IMO.
I also love the concept and array of the bunkering of 11, but if you are going to have a short par 4, then you really should make it a real and drivable par 4 at about 335-285-260 in my view. Every great course should have one, I think. The boomer green is good, something like 8 at Sand Hills.
I think you have alot of excitement in the 9th-10th-11th-12th that promotes that notion of saying the heck with a brat at the turn, I can't wait to stay in the flow of this great golf course!