Pat,
Yes, I do think there is a case for fast greens. It comes at the cost of many things (pace of play, cost and difficulty of maintenance, greens becoming too fast for current contours, and a slew of things that have been mentioned for years on this site). Playing Camargo in the US Am qualifier, that course was made monumentally more interesting by the greens running at 13 on the stimp. Placement was critical. The same went for Pasatiempo as I caddied for a friend there. With the exception of 1 unfair pin, placement became critical and ultimately turned Pasatiempo into one of the finest tests of golf I've ever seen. While it still plays difficult, it just isn't the same with slower greens, and I can get away with being in a lot more places.
I will comment more on this tomorrow when I have more time.