Paul Thomas,
With the ball and equipment producing "straighter" flight, mis-hits don't suffer the same consequences they faced 20-30-40-50 years ago. I think that's a major part of the problem.
You can now swing as hard as you want with little fear of harsh consequences.
BCrosby,
You're right, rough no longer presents undue difficulty.
Lob Wedges and specialty clubs have diminished its intended function.
But, other hazards, such as pot bunkers, etc., et., could be inserted.
The problem with inserting difficult features is the less than proficient golfer's ability to cope with them. The creation of an unduely penal feature which unfairly complicates the game for them, and slows up play.
With the disparity in length I don't think you can serve more than one master, architecturally.
I'd agree with you regarding the courses and their features in the UK, but, you're not going to change the culture or climate in the U.S., and as such, other measures must be sought.
That's why I feel a rollback is a solution.