I'm with TD on this one. The green is great and I have used the concept many times to build greens.
I believe that cluster of fw bunkers was added by JN in the 80s. I am not sure what they were originally intended to accomplish, but now, they range from 229 to 277 off the tee (according to the yardage book). They narrow the fw to about 25 yards, so most players are going to lay up or drive them. The layup leaves 135-140 yards and driving them (who can't carry 277 on the tour these days?) leaves < 100 yards, which is clearly the easier leave for most pin positions. Basically, those bunkers take away any real option off of the tee and could be rethought in light of the current game.
Overall, the green makes it a very good short par 4, but other factors probably keep it from being labeled "great." The natural aesthetics are nice, and the shaping on both fw and green side bunkers leaves something to be desired in my eye.