I stand behind Mr. MacWood on most of these issues.
I think the word "restoration" is being used for a lot of projects which should not be labeled as such. Moving a tee to bring an old bunker back into play is something I would consider on occasion; moving a fairway bunker from its natural place in the landscape, per Phil Young's example, I have found to be unsuccessful in nine out of ten examples I've seen through the years. You can't just put a bunker at a certain distance relative to the tee -- it fits into a certain fold in the land, and the original architect has decided which fold that is and placed his tee accordingly.
Geoffrey Childs: the 7th and 8th greens at SFGC had already been significantly changed by someone years before we got there. I think my version of the 7th green is the fourth try, after Tillie's original, a flat version after it had been washed out in a flood, and Mr. Tatum's c. 1975 attempt at restoration (based on a single photograph which is all they have). We did a bit of work to each without changing their character. Had they been Tillinghast's I don't know if I would have done anything. We did alter Tillie's original second green, because I was convinced that it would become unputtable with the new grass on the green ... I hated to do that, but they wouldn't go with a different grass.
I did pass on doing any work at Engineers because it had to involve major softening of several noteworthy greens ... I'm sure Trip Davis did a fine job of that, I just didn't want to be the one who erased them.
Joel:
I second your comments but I feel compelled to add that when the outcome of such projects is so much in doubt based on the execution, then maybe they shouldn't be done at all!