Anthony--
Played Oldfield last November. Disappointed that the course had just been overseeded. At least they warned us in advance and told us how soggy it would be. And they were right! We were told how they like to keep it playing much firmer and faster. Don't know if it was just lip service or not.
To me, the course was somewhat of a disappointment because many of the greens were flat and unexciting. Even the green surrounds on some holes were rather and in some cases almost indistinguishable from the greens. There seemed to be a noticeable lack of rough.
On the plus side, there was one very good risk/reward par four on the back nine (can't remember the hole #). The lack of homes on the course currently allowed wind to play a factor especially on the back side. Norman employed a variety of bunker styles including the steep sod stacked bunkers that I've seen him use elsewhere. Be sure to go to the River House(?) after your round for a drink.
IMHO, there seemed to be a ton of infrastructure that has been put in with seemingly very few homes built and/or sold. With the number of quality courses already in the area, they might be in for a rough time drawing golfers out to their development (which is somewhat of a hike from HHI or Bluffton)-- although they seem to want to attract more than just golfers with the water sports aspect.
I'd like to give the course another go under normal playing conditions. However when the bottom line is only one hole stands out as truly interesting and the only thing you tell someone is to be sure where to get a drink, maybe that says it all. I'll be interested to hear your thoughts...