This was my take in a thread a couple of years ago:
http://golfclubatlas.com/forum/index.php?topic=39532.35As Vijay Singh indicated in a 2004:
“I would rather sacrifice accuracy for length. I have a better chance of marking birdie on a hole hitting a shorter approach with a wedge from the rough than hitting an 8-iron from the fairway” Vijay Singh, USA Today, 2004
Statistics and results show that top players changed strategies in the the early 2000's - increasing their focus on length and worrying less about accuracy. Vijay Singh and Tiger Woods results seem to support this view:
2000
Tiger hit the ball 20 yards farther than Singh off the tee (298 to 279) and hit more fairways (71.2 (ranked 54th) to 67.9 (ranked 112th) Woods won $9 million and Singh $2.5. Woods won 9 out of 20 tournaments. Singh won 1 out of 26.
2004
The driving distance difference shrunk to nothing and Singh was slightly more accurate than Woods (60% to 56%) but 4% less accurate than the year before and 12% less accurate than in 2000. In other words, Singh decided to sacrifice accuracy to make up his distance gap behind Woods.
Singh won 9 tournaments and $10.5 million and Woods won 1 tournament and $5.3 million.
2005
Woods cranked up his driving again - adding 15 yards and taking a 15 yard advantage over Singh (316 - 301) and a little hit in accuracy, now behind Singh by 6% (60-54). Woods won $10.5 and Singh won $8.5 million that year. Woods won 6 out of 19 tournaments. Singh won 4 out of 30.
After 2005:
Since 2005, Woods has won 20 more tournaments. Singh has won 6. Woods has been ranked near the bottom in driving accuracy each year, as has Phil Mickelson.
Grooves and course set-ups may wind up offsetting the wisdom of this strategy.