Pros:
Very beautiful place to play. Great layout and lots of different throws needed to have a successful round. The concrete teepads are in great condition and the tee signs are all well made and good looking. There are good, clean bathrooms at the 1st teebox, and you circle back to them at hole 9.
It's not a course that you will shoot under par unless you are an advanced player, but if you can hit your lines and be creative, you can certainly have a good round.
Even though it is near the lake and the rough can be very wooded in places, there isn't much chance of losing a disc.
Cons:
My only really complaint about the course itself it thorns. Oh my word, thorns! If you throw one in the rough, go ahead and apologize to your legs. It's only bad on some holes, so I am overstating a little bit, some holes have little to no thorns, but the holes that do, are bad. I understand wanting to make players incentives for staying in the fairway, but give someone some gloves and hedgeclippers, and let them take some out.
One that cannot be fixed is the location. If yoyu are staying at DeGray State Park its a great place to play and have fun, but as someone who lived in Arkadelphia (the nearest larger sized town), it just isn't convenient to drive all the way out to it, there is a good course in Arkadelphia (Arkadelphia Sports Complex) and another one in Caddo Valley (DeGray Lower Lake), which you have to drive right by to go the State Park. Although if you lived on the south side of Hot Springs, I would imagine it be the best to drive to since Cedar Glades is north of town, and would be a pain to drive to.
There is a bike trail that runs near it, and there needs to be some better signage that keeps bikers off the course. There have been several times I've been standing on a teebox and a biker come rolling through the fairway.
Other Thoughts:
Overall, it's a great course. Being someone who relies on throwing farther than everyone, it doesn't play to my strengths, but that doesn't stop me from recognizing how great it is. It also is a great step up in difficulty from the other courses near it. It would be a great course for beginners, since there is no chance of losing a disc and it requires all the throws. Just wish it was a shorter drive.