Ran,
Im from the SE of England, right in the corner where RStG is found next to the greatness of Rye and Royal Cinque Ports amongst others such as Littlestone, Princes (next door to RStG) and North Foreland (directly across Pegwell Bay).
#16 in GB&I doesnt surprise me Ran because the course has been consistently overlooked for many years now to it's mor famous brothers and sisters. Then again the 'list' scenario/argument/ thing as detailed on this site is sometimes wrong. I would put the course in the top 10 definately if not higher if you give me the chance....
To answer your question, I know the course is not regarded as high as the Carnousties, TOC, Muirfields, Turnberrys, Lythams, Birkdales, Royal Liverpools, Troons by most of the people I talk to, but I truly believe it is, if not higher than all but one. The RStG course experience is different and I know the course has alot of quiet, armchair admirers.
Your list of past members and architects is a true reflection of it's pedigree. The course has been tampered with as you are no doubt aware, but the flavour which is RStG is still prominent. The back tees are a great edition to the course because of the changing times of modern day play, luckily the course has the space and the capacity to reap the benefits unlike Lytham.
The Nicklaus comment didnt help, although he did win an amateur event here which I play in now called the Grand Challenge played over RStG and RCP for £20 (possibly the best money in golf anywhere).
Ive played a number of the best Links courses including the Open Courses and I would firstly say IMO that RStG is for me one of the most interesting links style courses in the country. It has incredible undulation, long winding contours, towering dunes but most importantly a great playability. There are blind shots to greens and blind shots off the tee, but the course respects this and you will find the respective green formations less bold (5th).
There are long short holes (11th) and short long holes (4th), There are short short holes (16th) and long long holes (14th) right angled short par 4's (12th) and long, swooping dog legged holes such as 17th. Straight away holes (1st & 15th), short uphill holes (9th) and long uphill holes (10th). Stunning downhill holes (8th) and undulating holes (2nd and 17th) Superb Pitch holes (3rd & 6th) and reachable par 5's (7th).
In true Open spirit, the course has a solid start, although the first hole is misunderstood. The course gives you the chance to make a score early and give you a false sense of security but then bites you later when you make the turn for home on the last 5 or so.
The course has an excellent finish. Starting at the 14th (although the old 13th would be involved if the tee was still where it should be). The OB factor is high for this fine 3 shotter, the 15th plays Driver, 2iron to a green small enough to be considered small for a par 5!, 16th a six iron, 17th fairway is hard to find at any time, followed by a long iron to an elevated green and 18 always stands firm every year, don't miss the fairway right.
On a romantic note RStG has superb long views out across Pegwell Bay, and amazing tumbling views across the course once the shadows start emerging. The course photographs better than most aswell because of the ever changng areas of light and dark caused by the dune formations.
I'm fortunate enough to have travelled to the East Coast of the US last year on a 30 day tour from Miami up to Brookline where we saw 35 courses from Seminole to TCC. I was taken back by Seminole, Shinnecock, NGLA and Kiawah as far as the coastal courses I saw. RStG is high up on both sides of the Atlantic IMO.
Ran, please come and play the fine courses in this area one day and I can show you why this course is one of the finest links anywhere.