I've never played WFW, but I have played Newport, and based on a slightly odd rating scale, I'd prefer Newport, though I have no objection to all of the raves about WFW. I believe the NBC graphics I saw as regarding the greens. But, since I am not a great putter, I guess that great, more subtle greens (Newport) are just as wonderful to me as great, severe greens (WFW). But I digress as to why I'd prefer Newport.
I played Newport this past April, for the first seven holes in the most miserable golfing conditions I've ever experienced. It was a round of a match play tournament. It was about 40 degrees, hard rain, and wind howling. They called the tournament for the day after 7 holes. The last 11 holes were finished the next day (I lost 1 up on the regular 18th, Womens' Open 9th); it drizzled and was less windy.
Bottom line, If given the same conditions and the choice of those two courses, I'd choose Newport, because the openness of the place, while maximizing discomfort, necessitated creativity that WFW may not have allowed, given its apparent propensity for an aerial attack of the greens (I could be wrong about that, but that's just the way it looked on TV).
Another advantage Newport has over WFW is the aesthetics of the place. WFW, if you'll pardon the generalization, looks like "just another" US Open/PGA course. Narrow, long rough, tree troubles, just like Bethpage Black, Medinah, Olympia Fields, Pinehurst #2, Baltusrol, Hazeltine. Newport has a different feel altogether, more akin to Shinnecock, Whistling Straits, and all the Open Championship courses. To me personally, that is more interesting.
I'd love to see Newport host another major, but I think the USGA would be hesitant to give them a US Open, due to the weather concerns. An August date would give a much better chance for proper conditions, yes? That would leave either the US Am or a PGA. A PGA would be perfect for Newport, because they don't seem to be so heavily obsessed with defending par. They wouldn't need to do a whole lot to the place to make it a great PGA venue.