Jeff -
I go back and forth on that question. On the one hand, the answer seems easy and obvious, i.e. the priority needs to be on playability and relevance for today's players, and not on treating a golf course as a permanent/fixed work of art. But on the other hand, the very definition of what's 'playable' isn't all that clear to me, i.e. I think the concept is maybe a lot broader (and less 'fixed') than it seems to have become. In other words, I think there are more kinds of golf holes and tests of golf than we imagine; EVERY golf hole or golf shot is playable in one way or another.
Here's a poor analogy. Imagine if everyone who knew anything at all about golf course architecture suddenly disappeared, as did every book ever written on the subject. Now, when a group of new gca enthusiasts first encountered a short Par 4 on an old/classic course, might they not wonder how it ever could've been playable? Might they not assume (in the absence of all written records) that it was simply a hole that had not kept up with the times, and that for god knows what reason had not simply been lengthened so as to address changing technology? Would they be able to immediately intuit the strategic options/choices that the short Par 4 provided, and why architects of the past thought so highly of it? Could they intuit the fun it provided, and its rich variety of playability?
As I say, that's probably a bad analogy, but I hope you know what I'm trying to get at -- which is, if a hole 'worked' once, maybe we can trust that it will work again, albeit in a different way and in a way that might prove unpopular with today's player....until they 'learned' to appreciate it. THAT approach/result seems one that would come out of a strict adherence to the written words and intentions of the original designers.
But of course, that just brings up other questions...
Peter