the problem with your point of view is two fold. Firstly, the greens end up being flattened as they have so few pin positions when they are so fast ergo the players ends up with straighter putts. Secondly, good putters learn to cope with high stimping greens very quickly so it is no challenge. However, a good putter will hole more putts due entirely to the fact that the ball will be rolling slower as it gets to the hole. Fast greens are more difficult for the average putter but for a good putter they offer no challenge unlike a green with a lower stimp reading does.
Jon--
I think we'll have to agree to disagree on that.
I generally concur that there are hole locations that work at slower speeds but not at faster ones, but I will say such a phenomenon seems extraordinarily infrequent to me. I look at courses like Oakmont, Augusta and Winged Foot and can't recall really any hole locations that were formerly usable and now no longer are. I am not saying this is necessarily the case, but if they have lost hole locations I really haven't noticed.
That having been said, I know Augusta regrades their green complexes rather frequently so I wouldn't rule out there being some flattening going on there between seasons to preserve the more contour-heavy hole positions. For example, I know Jack had to redo the 9th green at some point in order to flatten out some of the steeper areas.
As far as your second point goes--while I do agree the slower ball does widen the hole (ever so slightly), the similarly slow moving ball is so much more significantly impacted by contour. Therefore, the dramatically narrowed margin of error inherent in the required harmonization of speed/line seems (to me) to outpace the slightly widened margin of error on lip outs/ins.
I can certainly say that if I had to make a 10 foot putt to save my mother's life, I would SO much rather it be on a slow (but true) left center putt (that I can hit basically any speed I want) than a lightening fast putt I have to play six inches outside the left edge and make sure I give juuuuust the right amount of weight to take juuuuuuust the right amount of break.
Just my opinion, but if you backed Oakmont off to 9/10 on the stimp you might be able to squeeze out a few extra hole locations but would do so at the expense of what ought to be a wonderful test to watch on/around the greens.