Super:
I think Nicklaus' early work (e.g., Muirfield Village, Shoal Creek) may have overly emphasized his shot, the high fade. Nicklaus himself has admitted this in print.
I also think that much of his mid-80's work was overly done (e.g., the conical mounds at Loxahatchee, Grand Traverse Bear, Grand Cypress, the multi-tiered greens at Desert Highlands, the shrp-edged fairways at PGA West), but if truth be told the whole industry was doing the same thing as that was what was in "vogue" and evidently what the property owners wanted.
With those observations made, I think Nicklaus' current work is generally excellent, better than Fazio, Rees Jones, Greg Norman, Palmer-Seay, because of Nicklaus' appreciation of shot values and strategy.
It's a different, more sculpted, style than Doak, Coore and Crenshaw, and Hanse, which many on this site seem to like more, but in terms of thinking your way around the course, no one can argue that Nicklaus' designs aren't provocative and interesting. Jay Morrish said he learned more in two minutes about shot values when he first joined the Nicklaus organization than he did in twenty years before.
If Nicklaus compromised in the 80s for the marketable, I think he has come full circle back to building the best possible course, irrespective of marketing, as he sees it. Las Campanas in Santa Fe, Old Works in Montana, Mayacama in Napa, are examples. I've heard the The Bear's Club in Florida is a real treat. He's built a new course for Lyle Anderson in Hawaii called Hokulia which has the ocean and all-world views for aesthetics, but more importantly loads of strategy defined by Mackenzie-inspired bunkers and trees that call for multiple options of play, with natural moving fairway contours, to greens that range from 3,500 sf to 12,000sf. The 4th is a Cape Hole, 9 has spectacle bunkers guarding a green with a 10 foot natural fall from front plateau to back punchbowl, and 12 imitates 10 at Riviera in reverse.
Overall, if a participant in this DG played one of Nicklaus' current designs, I think he'd walk away impressed.