Pros:
Pratt Park is located in a nice area in Fredericksburg - it's quite close to civilization but for most of the course you wouldn't be able to tell. The course is pretty well varied, with mostly wooded holes. The first half of the course is almost entirely tight wooded holes. There are 2 open holes in the middle, followed by more interesting wooded holes on the back end. The back 9 features some interesting changes in elevation - my personal favorite hole was #13, which plays from the top of a steep hill over a small valley. #12 is a nice, and long, blind downhill shot. The last few holes wrap around a creek, and #18 ends by a waterfall. There really are some wonderful views here.
Cons:
My biggest problem with this course was navigation. Most baskets are not visible from the tees, so I had to walk the length of most of the holes before playing them in order to know where I was throwing. Having to walk each hole twice made the round take quite some time. Also, finding the next tee was often quite hard - this course could really benefit from some signage indicating the hole layouts and the location of the next tee.
You will not be able to get a quick round in at this course. After playing there once navigation won't be a problem, but the varied terrain, the occasional long distance between holes, and the fact that the basket for 18 is a long walk from the parking lot all combine for a lengthy round.
#14 is a hole that I might just skip next time. The tee is at the bottom of a steep hill, requiring a tomahawk up and over the hill. I thought that I could easily do this, but proved myself wrong and landed halfway up the VERY steep hill. Getting my disc was not fun... there are many places throughout this course where getting to your disc can be miserable.
Other Thoughts:
Pratt Park is a good place to play. There are chances to use every disc in the bag here, and there are some great views. I would recommend printing a map, because there were none available on site and you will need one. Be ready for a lot of walking and a longer-than-usual round of play.
All things considered, I would rather play Loriella over Pratt. The scenery is nicer at Pratt, and a few of the holes are pretty remarkable, but overall Loriella provides a more satisfying round. I recommend checking out Pratt, but only if you don't mind a hike and aren't in a hurry.
UPDATE: Since my initial review I have returned to this course several times, and it looks like lots of work has been going into it lately. There is bright green ribbon marking the baskets, and on most holes there is a band around a tree marking the direction to throw in. There are now white markers on trees indicating the way to the next hole, as well. All of these improvements make navigating this course MUCH easier.
Many of the tees now have mats as well, which is great (except on #4, which has lots of mulch under the mat and isn't very smooth). There are also white tee markers at every tee.
I no longer prefer Loriella over Pratt park. Each course is great and unique - Loriella has more open holes and longer drives, but I think that the holes at Pratt (particularly the back 9) are much more creative.