This is more or less my home course here in Phoenix. It gets a bad rap from some, for a variety of reasons. Some just find it visually lacking, because it's flat and there aren't really any views to speak of. Others think there's not much challenge because the fairways are wide and the green pretty big (of course it's that old C&C thing, you can make a lot of pars around here, but good luck going low).
I adore the place. It's best in the early fall, September or October, when it's dry (usually! sorry Ran!) before overseeding, because you get some bounce. But it plays quite well even when it's not especially firm just because the angles and greens are so good. The second, third, and 12th, which force the use of OB are, in a strange way, as much like something you might find at Hoylake or Carnoustie as anywhere in the States (they're not linksy, but where else do you find OB used like this?).
I think you make a great point about the local vs. travel reputation. I live in NC but get to PHX once or twice a year to visit family. If I lived there, I would play both TS courses a ton. I hadn't played Piipaash until a few weeks ago, but was pleasantly surprised how much I liked it. All 36 holes there are soundly designed, you don't need a shagbag of balls, and the price is good. If I was going to introduce my son to the game and I lived there, I'd go straight to Talking Stick. It's probably telling that I never get paired with locals elsewhere, but generally do at TS. It really is a clinic on how to build a great course with no elevation and just a handful of bunkers.
When I first started heading out to AZ, I played few repeats except for Wekopa's Saguaro course, which anyone who has ever played with me knows I have borderline inappropriate love for. If I'm going myself or taking buddies, the menu almost always looks like this:
1) Saguaro, non-negotiable
2) Probably Wekopa Cholla because the 36 hole package makes it too good to pass up
3) Pick one from Apache Stronghold, Troon North Pinnacle, and either Talking Stick course
The first 3 have sound design plus good land. I love Apache Stronghold (best $15 I've ever spent...$25 including the shirt!), but the drive often eliminates it.
Then we're down to choosing between Pinnacle and either Talking Stick course. I have issues with Pinnacle...par 3's lack some variety (though it's better than Monument), the routing flow doesn't feel right since they've shuffled the courses so much (though better than Monument), having a woman sit by the pool reading her iPad in my line of site while I tee off (she lives on Pinnacle, but there's probably someone like her on Monument), Monument having both of the "drivable 4's" on site, and playability issues for weaker players. On the other hand, much of it plays very similar to Piipash with the pushed up greens and closely mown (ryegrass) banks, plus you get all the stunning undulation. I couldn't play there every day, but once every 2-3 years I find it interesting. I can play flat, soundly designed parkland courses a lot of places, but I can't play something like Pinnacle that often and if I'm flying across the country or bringing buddies that never go to Arizona, unique is going to win often. The fact that I'd consider Talking Stick vs. Pinnacle given the hands they were dealt in terms of land quality is a testament to what was achieved there. And C&C didn't even have to build fake Afghanistan to do it!