I really don't like OB unless the pre-existing features of the property dictate that a landing area be out of bounds. Such features include water, walls, parking lots, roads, poison ivy patches, etc.
There is footage of the 2010 USDGC on youtube, and in watching those videos I noticed the following:
Very few of the holes played on that course (sorry, I don't remember the name) were "true" golf holes. Most consisted of a huge bomb or two in an open field, with nothing to threaten a beautiful flight EVERY TIME. Players didn't have to hit any particular line (as they would on, say, a heavily wooded hole); all they had to do was make sure their disc landed in-bounds, which was marked of course by yellow rope. A course like this takes away a full half of the challenge of disc golf, I think. Sure, it takes skill to hit your landing zone accurately. But if there are no true hazards or obstacles to avoid, you're not golfing. Give me trees, give me rocks, give me water. But please keep the OB tape to a minimum.