I haven't played many of the newer short par 4's mentioned on this thread. I agree with TOC #12, CPC #9, NGLA #1, #2, and #17, and many of the other ones mentioned as being worthy of recognition as great holes. However, and I may be biased, I still have yet to find a short par 4 that compares to the strategic values of #10 at Riviera. It's length (must be driven fairly long by a well accomplished golfer to reach the putting surface), it's width, bunker placement and angles/shapes of bunkers, pitch and angle of green and fairway mow lines are unequaled IMO. I have yet to play a hole that has so many choices of how to play it. Even better, the list of potential options on the second shot are just as endless as the tee shot. It is an absolute genius design and should be enshrined in a "how to" museum of golf architecture. One of the best "man made" designs ever, IMO.
The short par 4 is my favorite type of hole in all of golf. The reason I hold so much respect for these holes is that they offer such a huge scoring value to all golfers. They can make or break rounds easier than any other type of hole. I haven't done any sort of analysis to back this claim up but I see them as the paramount hole of any round. They are crucible holes where the interaction between golfer and course is at its most scrutinized. Short par 4's with the scoring opportunities are few in number and they present all golfers with that feeling of need to take advantage of them. I can't tell you how many tournaments won or lost I have experienced or witnessed that have been decided on these holes. I think we all know the feeling of making a bogey or even sometimes double-bogey on a hole we so expect to birdie or par at the very worst. It leaves you scratching your head and wondering "what if".
Jeff F.