I don't know what those old guys would do, though I'm guessing Tom I is right: They'd make the courses difficult for the pros.
(Of course, the PGA Tour -- apparently believing that fans prefer these-guys-are-good birdies to this-game-is-great struggle -- would set the courses up easy. Did you guys see the tee at Doral 18 on Saturday, when the field staff -- seeing the wind in the face -- set the tee markers 50 YARDS AHEAD of the back of the tee? Johnny Miller was nearly apoplectic! And good for him for saying: The hole was not designed to be played this way, with wedge 2nds.)
For my part: Give me struggle! Give me pain! Give me potential disaster at every turn!
If the land would allow, here's what I envision as a prototype course for the touring pros (and I'd love to play it, too -- from the Whites):
In general, I'd do everything possible to make the shots to the green as long and/or as difficult as possible.
That means: Few 380- to 430-yard par-4s. Those that survive would have to have extremely tight driving areas AND extremely difficult or well-protected greens.
The standard two-shot par-4 on my Course for Pros would be 450-470 yards long. Make 'em hit some 2- and 3- and 4-irons to the greens.
Driveable par-4s seem to make things interesting for the pros. I'd build a couple of REALLY TEMPTING ones (driveable for EVERY touring pro) on every course -- to go with a couple of short, very tight par-4s and half a dozen par-4 brutes.
(By the way: I'd always leave a ground-game opening on the long holes. ALWAYS. There's nothing more exciting in the pro game, to my eyes, than the Recovery Shots -- the manufactured, bouncing and rolling shots. And I'd do everything possible to make those shots possible.)
I'd have two short par-5s that all of the pros could reach with two woods; one par-5 that only the longest could reach (and with risk); and one par-5 that none of them could reach on a calm day, with a tiny green demanding a precise approach.
I'd have one wedge-length par-3, one wood-length par-3, one par-3 favoring a mid-iron fade, and one par-3 favoring a mid-iron draw.