Certainly, it was not Jones and MacKenzie's original design of Augusta National which makes The Masters so exciting. After all, they got the nines backwards. But Jones eventually figured it out.
Every time there is a great tournament such as this year's, we hear how it's the greatest Masters ever, and we don't really think much about why it seemed that way. It seems that way because of the pacing of the course. Here's how it works:
Holes 7, 8 and 9 offer the potential for birdie or even eagle, as Tiger Woods demonstrated yesterday. These are the holes which allow contenders to jump up the leader board while the leaders are playing some of the most difficult holes on the course [4, 5 and 6].
Holes 10, 11 and 12 are the toughest stretch of holes at Augusta. Here, the guys who are trying to mount a challenge may struggle, especially in comparison to leaders who are playing 7, 8 and 9. But here again, the leaders have to navigate this stretch of holes while the contenders are eliciting roars up ahead on holes 13-16, and it's tough to keep your focus under those circumstances, as Rory McIlroy proved again this year.
Holes 13, 14 and 15 (and 16 when the flag is back left in the now-traditional Sunday spot) are, like 7 through 9, holes where birdie and eagle are again a factor, and contenders playing ahead can put pressure on the leaders, which makes the leader board look like it's changing more than it really is. [In fact, if you just look at the big Masters scoreboard on a hole-by-hole basis and compare where every player was at the same point in their rounds, you'll usually see that the lead was not changing nearly as much as it seemed to be. I am going to go look at this right now and report back.]
Holes 17 and 18 are tough finishing holes where someone can make a birdie, but a player trying to hold on can easily make a bogey, too. That's what you need from finishing holes. If they are all just par-or-bogey holes, the finishes will be much less exciting, and the course will get a reputation for producing leaders who choke down the stretch.
None of that would really matter for anything but tournament play, but in a tournament, it is by far the most exciting recipe for drama.