TE,
Boy, you're not fooling around with those questions: IMHO, they get right to the heart of many of the subjects discussed on this board (e.g. restoration-preservation; the impact of technology-elasticity of features; strategic-penal-natural design philosophies; the definition of quality architecture; maintenance practices; the economics of the game etc)
It seems to me that if we want to honour the spirit of our Golden Age forefathers, we'd first have to be pretty clear about what that spirit ACTUALLY was?
The Golden Agers don't seem to have been TOO precious about their designs, i.e. they were tweaking and lengthening and learning and changing their courses all the time, sometimes out of sheer necessity. But I think they WERE seriously wedded to some basic, underlying philosophies about what the game of golf was all about, and about what the courses that game was played on were all about.
The trouble is, I don't know what those basic philosophies WERE -- so, in short, I can't answer your questions.
But I think that if we could truly know what was MOST important to our Golden Age forefathers, i.e. what they REALLY believed was the spirit of the game, not just in theory or in books but in actual practice, right on the ground, then we could and should try to preserve our modern courses -- and then we could proceed with some comfort knowing that we had the right principles to guide those attempts at preservation.
I didn't really answer your question; and I'm just working out my thoughts.
Peter