I cannot really comment on Torrey, but I think Valhalla is better than a lot of people think. I don't know what the opinions are on this site, but Valhalla seems to get criticized by many because 1) people have decided that they don't like Nicklaus courses 2) there are power lines running through part of it, 3) the clubhouse is sort of ugly, 4) the PGA owns it, 5) the 13th green is an island on a pile of rocks (as Tom Doak wrote, "Jack at his innovative worst"), 6) the pros did not like the 18th green and 7) Mark Brooks won the first tournament there, instead of some bigger name. None of those seem like good reasons, except maybe #5. The last one amuses me the most and I thought it was funny to see how much more respected the course seemed to become after Tiger won there (instead of Mark Brooks).
I think the renovation work had some positives and some negatives. In the never ending quest for length, they added some tees which are silly and would ruin the hole for any mere mortal (but nobody plays from back there, so I guess it is ok). I think the new #6 is worse, where they moved the green back 100 yards from the edge of the ravine and turned an interesting and pretty 3-wood/7-iron hole into a less interesting 3-wood/3-wood slog. The par 5 7th is now better, since they kept the alternate fairway and (hopefully) made it relevant even for the best players. In the last two PGAs, they put hospitality tents on the left fairway.
This is the before version, but you can at least see the left fairway option
The par three #8 had a green that was too severe before and had a limited number of pin options. For some reason, when they rebuilt it, they made it even more severe and I have heard they are going back and reworking it again. This seems to be a problem of what to do with a shortish par 3, if all you are worried about is PGA scoring. In order to keep it from being a birdie-fest, they go haywire on the green and often mess up the hole.
18 got a lot of criticism and I think the green is a little overdone, but I also think that the charm of that hole is lost on a tour pro (or a spectator watching a tour pro). The alternate fairway option for the 2nd shot is a fun design, but it is totally irrelevant to guys who can hit 4-iron over the green. For me, depending on the hole location, it may make sense to play it to either side, which I think makes it an interesting and fun hole.
#18 - the alternate fairway option here is on the second shot
In general, I think it is quite a good course. It is hard, but if you play from the appropriate tees, it is generally very fun and playable. In my opinion, the best holes are 2, 3, 4, 7, 9, 10, 14, 17 and 18. The worst are 6(new), 12 and 13.