Matt: I think the first thing you have to do is to limit yourself to the modern courses in comparing HC with other New Jersey venues. You simply cannot build a course today and somehow claim that it should be compared to Plainfield, Somerset Hills, Baltusrol and so on. What that comparison should be is whether the work done at Essex County has put it in the same league as Plainfield, etc., but that is a discussion for a separate thread.
In my humble opinion HC is what it is because of its greeens - pure and simple that is it. As it was explained to us the greens were not designed as USGA greens so there are no obvious pin placements and this means there are an infinite number of possibilities of how the course will set up on a particular day. The greens are fun and a challenge to read and a challenge to putt perhaps more so than any other greens I've come across. I think they alone are enough to make it a contender for top 100 consideration. The bunkering and chipping areas around the greens then are another very strong positive that work great with the greens.
The holes themselves are of great variety and require you to plan how you will play the hole and the course allows for the well executed recovery shot to be rewarded which is very often not the case anymore today.
I happen to think that Galloway is the best Fazio course I've played and I really enjoy it, however, that being said, I don't think it is a better course than HC. It is a far more punishing course than HC but I wouldn't say it is better. The holes fit well within the surroundings but the routing is extremely forced with the apparent intention to maximize the number of holes that play near the bay. The greens are very good and are a challenge to read and putt but they aren't unique like the ones at HC. One might say that the holes at Galloway are more dramatic, but are they better, I don't think so.
I should think it is a compliment that Galloway and HC are seen as so directly competitive in the minds of many who participate on GCA. Remember, Fazio has done the Ridge and Pine Hill in New Jersey and I don't believe that many on this site would compare them to HC. The criticism of HC seems to be more directed at the property itself as opposed to what was done with the property. If Hidden Creek and Galloway came out as #1 and #2 modern in New Jersey or vice versa, would there really be a serious outcry of which one was on top?