Matt,
Is your question rhetorical? Most people I know think highly of BC. None of the courses are U.S. To 100 so in that sense it doesn't compare with, say, Bandon Dunes for a pure golf experience. However, as you note, the resort offers a considerable breadth of activities and nearby Austin has a whole bunch more.
I like the Canyons course the best of the three I've played by a good margin. I 'm not big on large elevation changes, and Canyons was built on a gentler piece of land. Fazio kept the blade in check on this one, or at least it seemed that way, and holes like #10 and 13 offer great variety, challenge, contrast.
Foothills tends to get a higher ranking, I think primarily because of the elevation changes and the vistas Fazio provides. The heavily bunkered, guarded by water, downhill par 3 #9 is considered among the most scenic holes in Texas (I think it is just hard as nails). The cave hole, #18, is notorious, but after the drive, to me it is a very average hole. As someone else noted, a couple holes early in the back nine feel awkard.
The Palmer course, in my opinion, is very average. It has some nice elevation changes, but I prefer the other nearby Palmer course, Lakecliff CC. Here, the Palmer group had a relatively flat piece of land with some natural roll, and I thought that more thought was given to strategy.
I haven't played the C & C Cliffs course. The few times I've tried, either it was closed down for maintenance or had an outing on it. I've spoken to many people about it, however, and with the exception of Bill McBride, I can't recall that anyone thought it was memorable or anywhere in the class with the Fazio courses. I'll try again this year and perhaps we can discuss it.
As an aside, I understand that Spanish Oaks is about to re-open. Apparently, the original developer was able to buy it back from the lender and has been getting it ready. I really enjoyed my single round on this Bobby Weed course, and look forward to it returning as among the best Texas has to offer.