Ira
Let me preface what I'm about to say by saying that I was a member at Moray for a few years and had the pleasure of playing the course in some shape or form (ie. the course allows you to skip a few holes here and there and cut back etc) 3 or 4 times a week during the summer months.
Some would say therefore that I'm undoubtedly biased and they would be right. But I'm still correct in saying that Moray Old is as good as any and better than most of the courses in the north of Scotland. The only difference between Moray Old and RDGC or Nairn is that those courses have bigger greenkeeping budgets and Moray is nowhere near as pretentious. Moray Old, along with Fraserburgh and probably Peterhead along that coastline, is as big a course as any, which is to say it has championship muscle but is also great fun, eminently playable and with some great architecture.
As an aside, the photo that Bogey posted of Cullen, shows one of the sea stacks that are on the course. Next door to Moray is the nine hole Covesea course which has similar terrain.
Niall