On one hand, golfers love par threes. On another hand, they love par-72s, or at least pars that look familiar.
I'd say that a big resort like SV would be in the best position to try build a great course of low par. At the same time, knowing the American retail golfer, I'm unsure what an architect would have to do to keep said course from becoming "the other course" at Sand Valley.
I love the idea, assuming it's the best course for the given site, but it pays to the remember that we're the enlightened ones, or the pretentious ones or crazy ones if you so prefer. Most golfers don't think of Rye when they hear a par that starts with the number 6.
Or maybe it'd work great! Who even knows!