Lou,
If budget is concern there is a lot in favor of the 419 and common in the rough. First many courses are not fortunate to have ample topsoil so the good stuff goes to the fairway and whatever is left over is used for the rough, so you many times you donīt have a real good base and the common seems to grow in anything including asphalt and concrete. If your growing common in your rough I agree with limiting the water and the fertilizer, so instead of the typical wall to wall irrigation or head to head coverage that results in equal distribution, you can be less concerned with the rough and design the system so that the rough gets water but not a perfect watering and thereby reduce significantly the number of heads and the initial intallation cost(In todays cost as much as $200,000). Once a year fertilzing on clay soil keeps it green and fairly playable. Of course there will always be some complicated lies but as you also stated most of the time it is a fair penalty with a decent chance of recovering. With the 419 if its up, its a piece of cake and if its down...good luck! If you have an unlimitted budget (which I hope this phase becomes extinct in the future for the benefit of golf), a wall to wall irrigation system and for example sand throughout as your growing medium, than the scales could tip in favor of the 419 cut weekly at an inch an a quarter.