Pros:
This course has a great deal of elevation that is used superbly on a number of holes. The course is wooded, which means shade. The shade is good for 15-20 degrees of apparent comfort if not actual air temperature. There are a number of "signature" holes that are difficult, but fair and which use elevation and slope to great effect.
The course is well marked in most places. I love the tee boxes - concrete is overrated IMO. These give a good stance and are easier on the knees because they allow the foot to slip a little, but not enough to adversely affect throws. One or two had an uneven spot or two but this was not a problem. They tend to be short, but you don't need a run up on the vast majority of holes.
Cons:
There are no open holes. Several of the long tees are just stupidly difficult. I can't remember the hole, but there is a 900 ft hole with a "fairway" that is only 10 wide, at most, for the first 300 feet and then just extremely narrow afterwards. Many of the short holes have no defined fairway, just a bunch of trees to navigate. Luck is way too much of a factor on many of the holes on this course.
There are numerous forgettable, short holes with lots of trees and no well-defined path. On some holes, you cannot see the basket that is less than 200 ft away, which is a drawback IMO. This can test skill of course, but it tests luck a bit more.
This course is very rocky and will reallly tear up the less durable plastics in a single round.
This course could be greatly improved with a chainsaw and some selective pathmaking on quite a few holes. Giving a player a path to hit off the tee, even a very narrow one, is a good thing, especially if there is sufficient penalty for missing that path. Some holes do this perfectly, many offer no path at all.
There are a few holes where navigation can be an issue despite good signage on most of the course.
There are 2-3 holes that could have used longer tee boxes (but I still like these tee boxes).
Other Thoughts:
I played this course with a few locals which helped with the navigation since the kiosk was out of course maps and scorecards. This is a very nice course that you should not miss if you are in Hot Springs or nearby.
There are some incredibly fun holes on this course but there are also more than a few "filler" holes that keep this course from ranking higher in my opinion. Despite the technical nature of this course, in many cases, errant shots are not penalized sufficiently. Because many holes are so short, even if you hit a tree off the tee, you can still par without much trouble.