Pros:
This is a fun, relatively easy course in a quiet neighborhood. Par should be considered 55 (one long open par 4 with OB on each side of the fairway). TLV has beautiful baskets that are only 3 years old. The course is easy to navigate, even with some signs missing. Every tee box at least has a wooden post and a red spoke on every basket points to the next tee box which helps for the holes that lack signage.
The course is very clean - you can tell the city loves their park, even if the disc golf course itself has had some tension associated with it since its installation. Despite that tension, the locals are friendly, including the joggers and the dog owners. I only have to wait a few seconds for passing walkers and joggers every so often despite the high traffic of the park. This implies that the course was well thought out to mostly avoid areas that would be frequented by non-disc golfers.
I think the gravel walking trail and roads is well used for strategic OB. I can list about 9 holes that use this OB to force players to think hard about placement and shot selection, making the shortness of the course less of an issue.
Trees are abundant obstacles that give a lot of holes interesting low ceilings that are fun. The park made it through the 2011 drought pretty well.
Real bathrooms near Hole 8 that are in decent condition. Working water fountain near the dirt parking lot.
The park is regularly mowed so the landscaping looks good.
Cons:
Only 15 baskets.
Also, much of the hole numbering has become very confused since they removed hotes 1-3 over 3 years ago. Hole 4 became hole 1 and someone recently repainted the numbers to go from 1-15. This new hole 1 is not very near the parking lot. Many people who show up and have not researched the park online would probably see hole 7 (old hole 10) right by the parking lot and start there. Also, someone made the very poor decision of moving tee signs from retired tee placements to new tee placements and the maps don't apply, causing much confusion for non-locals.
While the course is not too easy, it also is not overly challenging. I have shot as low as 46 on the course and regularly shoot under par. If you have a consistent 300 foot drive, this course will not test your approach game and you may find yourself driving with your Roc or Buzzz most of the round.
Every so often there will be a Boy Scout camp out near the pavilion (old hole 8) that makes at least hole 8 unplayable, if not one more hole. This is a rare occurrence, however.
Bring your waterproof boots if it has rained recently. Many holes, mostly on the front 9, accumulate standing water and the natural tee pads get very slippery.
There is one hole (old hole 8) that could send a disc into a playground if a RHBH had a really bad griplock, but I have never seen it happen in several hundred rounds.
Other Thoughts:
I have literally played this course hundreds of times, as it is my "home" course. It is not the best course in Houston by far but is a great stop if you are in the area or is a perfect home course if you live nearby. It is more fun to spend an afternoon at TLV than Miramar (5 miles away), in my opinion, especially if you are bringing the family or the dog in tow (snakes are more common at Miramar).
TLV is a nice course in its current state but could become a great course with better teepads and a better relationship with the Village, which might eventually allow 3 more baskets for a full 18. This is not a place you will see a big tournament played in the near future but is an ideal course for a casual round if you don't want to worry about losing a disc and like how it feels to hit a birdie.
Make sure to visit Boondoggles - the (un)official 19th hole of the course - after your round. Boondoggles is located just across Taylor Lake and you can almost see it from old basket 6.