Adam, thanks a lot for your opinion, it helps me put things into perspective. You are right about the bones, the course is structurally intact and could be restored. I guess that when you visited it had to play ok, since they had a couple of minor Tour events at that time as well. But as of today all I can say is the course has fallen into disrepair. Must have missed the sandy ground, though, where should that be in this Alpine region?
Interestingly, the Lake course is claimed by the Hauser brothers!
The bunker placement on the King's Course is a strategic masterclass. You are right that they are easy to play out of, but at this point that's probably good, considering the state of the course. It's true that if the fairway and green surrounds were fixed, then part of this restoration could be a more "Coltish" design to the bunkers.
Ulrich