Not having ridden RAAM- a friend of mine reports that the newer routing also goes out of it's way to do climbing.
That's pretty much a moot point. I can't imagine there's that many people saying "Dang it, I'd go ride 4,000 miles if only they hadn't put those hills in there!"
Just glancing through the rules, it looks like you could go ride a couple of weeks each summer and finish it off in 20 years. I'm not sure how they'll know when people are actually done.
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"be careful this rando stuff is addictive and dan's the 'pusher'."