Greg,
For such an important issue, you need to ask someone more knowledgeable than this board. Even those of us who have passing familiarity with different green specs would have to know about your local site conditions, sands, etc.
With that disclaimer, I can say that yes, the USGA guidelines are just that. There are far many courses without USGA greens that ones with them. Heck, as a gca, I have built nearly as many California (no peat) greens as pure, unaltered USGA spec greens, with no ill effects. However, virtually every new course builds some kind of sand based greens.
In very generalized theory, they make most sense in rainy climates and where irrigation water is poor, so I suspect that you might consider them.
Really, it all depends on how the tests come out for typical green sands in your area. I alway look for moderate perc rates and moisture retention, which are usually, but not always related. The USGA suggests perc rates of 6-24" per hour. Many sands drain slower than that, and I have never seen the wisdom of adding organic just to have a USGA green. Generally, if a straight sand gives me perc rates of anything under 24" per hour, I look further into using straight sand, considering retained moisture, particle structure (round particles have trouble setting up, etc.) and particle sizes, cleanliness, lack of gravel in the sand and what not.
I can only stress that you should hire a good agronomist to come look at your site for a day. BTW, some are open to other than USGA greens, while some are "by the book." Since you favor (seemingly) the cost savings of other types, it would behoove you to ask a few questions beforehand, and bring in one who is at least open to the idea, if their research determines that all parameters are met for good green performance in whatever method they recommend.
For that matter, superintendents often fall in the same camps. Yours would need to be open to the idea as well, and consult others in the area who already have pure sand greens to see what regimens seem to work best. There are many superintendents who love pure sand greens. While initially droughty, long term, their drainage rates are always faster, and all greens slow down over time. Thus, they believe that if they can manage the early years, the later years will yield better performance.