My home state of Michigan is well-represented, except for Pilgrim's Run, which should be on the list. But I think people have gotten overly enthusiastic about Belvedere and Arcadia South. The former is a very nice course with a few excellent holes and a few more excellent greens, but the median hole and green are just good. I don't mind it on the list, but it should be near the bottom. And Arcadia South, while having an excellent set of greens, is just a bit over-designed from tee-to-green, with too much reliance on bunkers that make it feel like you're hitting the same drive repeatedly. I feel the same; on the list, but nearer to the bottom.
Nice to see American Dunes on the list--I don't think that it's gotten as much love as it deserves. There are a few of the best holes in Michigan out there and a few unusual features, like greens that fall away steeply on the par 5s nos. 2 and 13. I think it belongs in the same class as the Forest Dunes's and Greywalls.
One course I've seen recently that I think is underrated is the Pfau Course. I was really impressed; the land is outstanding and there's a lot of variety in the design, with holes falling across the land in different ways (a few blind drives) and good variety in the bunker scheme. It's hard, but not as hard as I was led to believe and nowhere near unreasonably so. There are a few squared-off greens which reminded me of Arcadia South, but I thought this was a better course--the land is just so much better and the design doesn't lean so heavily on bunkering.
Good to see the love for the Pinehurst area courses, but I think people have gotten overly enthusiastic about Southern Pines too. It's a beautiful course, but too many greens have severe false fronts and it feels like you're hitting the same approach too often. For me, it's a class below Mid Pines and Pine Needles.