I think it was decommissioned in 1989 and it's now an Arnold Palmer course. They've fixed it up pretty well the last couple years, mostly by improving the drainage, but it's got a way to go to be really top of the line (lousy bunkering, greens are all over the place in terms of quality). I understand they have the budget to do so, though.
It's worth it if you're a Bay Area resident and qualify for the local rates, but not at all worth the tourist rate of $140 or so.
I'm going off at 6:36 in the hopes of getting 18. (Working from home so it should be doable without taking the 6 am slot). I don't think you can make a reservation for the 9-hole early bird but you can always get on at that hour, it's wide open as of right now- and, of course, it's super-convenient to getting to Marin.
Das- we have Saturday passes only. Let me know if you decide to go that route since there's a good chance I'll have some to get rid of for below face.