Jerry,
Forgetting PD for a moment, my phrase has always been "all things being equal....."I prefer a course that is fairly well balanced among 3, 4 and 5 par holes. But, things are not always (actually rarely are) equal.
Robert Bruce Harris and a few others wrote about "perfect par balance" whereby no two holes, save maybe 9 and 10, had the same par. A few of his disciples practiced it fully, sometimes, at the expense of good holes, to achieve 4-5-4-3-4-5-4-3-4 and back nine of the same. Most had small variations when the land dictated. Augusta has it on the front nine, albeit 6 is a 3 and 8 is a par 5.
18 good holes trump sequence, IMHO. One of my biggest sequence concerns when routing is avoiding 3-5 hard par 4 holes in a row. I admit, I accept back to back par 5 holes more easily than back to back par 3 holes, but for the most part, other sequences are fair game, if the holes are good.
I presume spectacular sites lend themselves to odd hole par sequences to take best advantage of the land.
When Opryland hosted a senior event, they renumbered the holes with consecutive par 3's for better gallery flow. Which illustrates that for different courses, certain demands may alter the sequence and be more important to the Owner than the "best" playing sequence for good players. Case in point, most muni courses need fairly long holes to get golfers out on the course (and past the rain check period) and like the short reachable par 5 holes and par 3 holes as far back as possible, since they speed play, etc.