The par 5 show below is from Eagle Bend in Lawrence, KS. It's a muni designed by Brauer. I have always thought this was one of the better split fairway holes I have seen.
Trees actually fill the space between the two fairways. The fairway to the left is a little narrower and a more difficult angle than the fairway to the right which is basically straight away. The risk is if you go too far left you're in the trees and creek and most likely taking a drop.
What you can't see from the drawing (sorry don't have a pic handy) is that the green is two tiered, with the tier on the right about 3-4' higher than the left tier.
If you take the more difficult route off the tee you can have anywhere between 250-210 in to the green and easily run one up the left side.
If you take the easier fairway to the right you are most likely laying up due to the bunkers front right unless you can hit one 250 and get it to land and stop on a narrower sliver of green. There is pretty much nowhere to bail out, either. If you do lay up, the sloping green and death long make the 3rd shot no cupcake.
I usually try the left hand route. The risk is definitely worth the reward, in my opinion, on this hole and one I always enjoy playing.