Pros:
Something about having greens fees elevates this place to the next level. Maybe it hold back the crowds, or just makes you feel special, but I was happy to throw down my $12. The little pro shop and hang-out space at the entrance (and the awesomely friendly staff) make this place great and justify the entrance fees. Professionally maintained tee boxes and signage, no detail overlooked. Really enjoyed playing this course, it is hilly and a little through the woods (similar to most mountain courses in Colorado), but the trees never get too dense so the play remains exciting rather than getting frustrating.
Cons:
I really enjoyed playing this course, and I think the amenities and well maintained tee setups and signage justify the cost. That being said, when I compare this to other free courses in the mountains and around Colorado, I think some of the free courses do offer just as good holes and just as fun playing experience.
Other Thoughts:
Be sure to save time for a few rounds on the "ace course" putting course once you've crushed your full-round (and a couple cold ones!). The playful small course is a great way to end the day.