First, I don't believe we have anything near concensus on what constitutes the ideal site. Second, Fazio couldn't get a gimme if he was 6" below the hole from many on this site.
I would argue that large elevations changes are detrimental to a site. Ditto for soils other than sandy loam, or just plain sand (which can pose other problems). The presence of rock, wetlands, and specimen trees further compound the problem. Add strong winds and heavy rainfall to the list.
The Preserve has a bit of all these "problems" to various degrees, and I commend the design team of Sandy Tatum, Mike Poellot, and Fazio for coming up with a challenging, yet playable, and walkable golf course. The site and surrounds are indeed visually breathtaking, no doubt adding substantially to what one experiences while playing golf.
As to the best natural site made available to Fazio, The Vaquero Club just west of DFW Airport comes to mind. It was the top ranked course in Texas by the Dallas Morning News, a bit higher than my own estimation. Gently rolling with some nice, but unabrupt elevation changes, the site is beautiful in its own way, and Fazio did not have to force any part of the course onto the ground. It is also appears to be the new club of choice by the many touring professionals based in the Dallas area.