Sean,
I agree that the bunker and waste area placement at MP is all on the sides, and that while there seem to be a number of good opportunities for center line hazards, Kyle Franz didn't put any in. I've spoke with Kyle about this, and his response is that he wasn't designing new holes but instead was restoring what Donald Ross designed.And Ross's design didn't include any center line hazards at MP. (I have the same thoughts and Kyle the same response for Pine Needles as well.)
As for more tree removal, yeah sure, but really carefully so as to not mess up the required shot shaping. The playing corridors are for the most part right for the design of the holes, but there are some places out of play that would benefit. Problem is, to my understanding, that there are now some very strict environmental restrictions (bird habitats and the like) that have put a stop on taking any more out.
And finally, Old Town is my favorite in NC as well. Take away the off-course views and erase the history at #2 and just look at and play #2 and OTC, and I think OTC is the more interesting, fun, varied, and challenging course.