As far as I'm concerned, it's damn near perfect. The only thing that holds it back is the lack of movement in the terrain. It's a terribly flat hole. Still, it would be my favorite hole on any other course I've ever played (I think it's probably my 5th favorite at Pebble).
It's one of the best walks in golf. It takes a special kind of person to complain about visual blemishes when standing on that tee. Why are you looking at the houses? And if you are, do you really think they should be evaluated on the same terms as the vinyl empire that surrounds other courses with housing?
Honestly, if you hate the housing at Pebble, you probably belong at Occupy Carmel instead of Pebble Beach. I'm with John. I actually paid money to walk around the grounds of the Biltmore Estate last weekend, and I'm happy to wonder about the lives of the people living alongside the course when I'm at Pebble too. You know, when I'm not staring at the ocean alongside the best cliffline in golf.