Ryan Simper and I played SPCC during my little silly-season sojourn to Raleigh two weekends ago.
The course was solid as ever, and the greens were the best I had seen them over 3 or 4 plays (twice in 3/03, once in 3/04 at least). They told us to bear with the bunker renovation, as some are still harder with the old sand, and some are softer with the new, lighter sand. I beleive I have read in Richard Mandell's book (as well as on here in the F.I.) that he is working with the club on the project.
We played with a local pro (Whispering Pines) with Mass. golf ties, who said that there are potential plans to revive the 3rd "little" nine, and build houses on one of the current nines.
So, with the renovation work going on, this doesn't seem congruent with selling one nine and reviving the old one. Anyone have relevant info? Was this guy just blowing smoke?
WP is run by the same management company organization as SPCC at the moment, I would imagine that the company is this pro's employer.
As an aside, if anyone or the Elks had the money, there would be a great opportunity with that cleared former 9 to build holes with the old, scrubby, sandy edges like all the Pinehurst/Southern Pines courses were at one point, a bit like some of the edges highlighted in the Wilmington Muni profile on this site.