Jaeger, I think your impression is what most people would get from walking the course without playing. Nothing too special, nothing really eye-catching, the most notable elements are a big embankment and a hole that stands out as unusually long on the scorecard. The comments on the greens are especially humorous to anyone who has played the course. I'm not sure there's a pin position on 1, 3, 8, 9, 10, 13, 15, or 17 that ISN'T a "Sunday pin."
I actually think this benign appearance is the key to the course's brilliance. At courses like Crystal Downs and Pinehurst No. 2, you can be out of position and not even realize it until after the ensuing shot. At Canterbury, you can get out of position and not even realize it until a few hours after the round is over, if you ever realize it at all. I played quite well in my second round there, at least for the first 15 holes, and I don't think I would have really understood the course if I hadn't seen how tough it was to score on it and how many options and risk/reward opportunities it presents to a player who's in control of his irons.
I got a little sloppy on the last three holes of that round, which brings me to Frank's point. We played 15 as our 17th hole, and I hit a Furyk-style pull-hook off the tee that should've gone OB but instead hit a tree and came back in, but still 220 yards out. With the ball in the rough and a poor lie, it was a pretty daunting second shot. I didn't catch it very clean, and watching and hoping as the ball sailed toward the embankment was pretty nerve-racking until it landed safely on the other side. For my game, I'd have a BLAST if this hole was a 230+ yard par 3, though I suspect some slower-swing speed players would be pretty frustrated by it. As is, I think it's a visually superb hole that doesn't have a ton of strategic interest, although the final 70 yards offers a lot of interesting scrambling.
I think Ken said it well - 2 rounds don't do Canterbury justice, and I believe the primary reason is the course's lack of visual panache. It's very hard to identify trouble spots until you're in them, or even after you've played from them. Most courses offer something that tips you off to how they should be attacked. Canterbury really doesn't, and yet the underlying strategies of the course are still tied together and make sense as you uncover them.