Greetings from a another lurker/newbie....
Just thought I'd throw my 2 cents in since I live and work (at another golf course) just down the road from Morgan Creek and have played there a few times. I'm sure Jed can attest to or improve upon my knowledge of the course but just a wee bit of information for those of you considering playing...
One, I would highly recommend it. I enjoy playing the course though I believe it plays rather difficult (then again I'm a lower handicap and played from the back tees in an attempt to get the FULL (read: 7000+ yard) experience and views). There are a variety of tees suitable for every level of golfer though.
Two, for those of you checking out the pictures on their website....for whatever it's worth, the nines have been switched now, so that #18 instead of #9 finishes at the clubhouse. Also, the pictures do appear to be from very near to the course opening. My first opportunity at playing this course was almost exactly how you see it in the pictures, original order of the holes and all. One of the elements that captured me was the defintion of the lines and levels throughout the course, giving it a links layout sort of feel in contouring, but in a different way, in a much more ANGULAR way. Not bad, just different. However, being in the golf course maintenance industry, I immediately began to wonder how maintenance of such abrupt linear and angular levels was. My questions were answered when I recently played the course again, as it definetely seems that the contours are significantly less defined and in some cases softened completely to more subtle and rolling level changes, much more manageable for golf course equipment. That being said, the changes are not all that bad, but I did enjoy the course more in its original state (I was just glad I wasn't the one faced with the challenge of maintaining it!).
Once again, it's worth a play. It's definetely a different feel than any other course I've played, and Jed should be proud to be a member there. It's a beautiful course and a definete challange.