Jeff,
The answer is Yes - cost is as important as conditioning.
That model would be very cost effective and the course a more consistent performer over the long run on conditioning.
It will build and hold a dedicated core - which equates to a successful business.
My opinion.
The issue most courses have is their neighbours - having the slowest greens of the group is a tough sell.
If your isolated, the issue is easier to manage, if your surrounded by other competitors, you may have troubles.