I'd forgotten about the parking in the middle at the Promenade. That makes it more appealing, but I still don't like the large parking lot surrounding it, which may be where I differ somewhat from you two.
See, when I look at Pleasant Ridge, I don't see a large parking lot and I don't find the stores that far apart either. The stores probably are closer together at the Promenade, but it doesn't seem like enough to make much difference and it comes at the cost of a large parking lot. Maybe I'm the only one who receives these vibes, but I'm just being honest here. I'm sure that Architect is right about the Promenade being better constructed, using better materials, and using better architectural styles (Besides not being qualified, I really haven't paid enough attention here), but I think the main reason why I like Pleasant Ridge is due to the layout. I realize that it's simple, but from my perspective, it doesn't have the eyesore of a large parking lot that the Promenade has and I think that it's made better use of the surrounding landscape.
As for Lou Schickel, I completely understand the resentment with his past actions, but I've been focusing completely on the centers and not who built or owns them. Buying that lot (or was it lots?) in the middle of Midtowne was pretty low, and seemingly inexcusable, although I bet it was a smart move business-wise for Pleasant Ridge. When it comes to the Promenade, anyway, I'm not too big on Red, either, as they seem like big out-of-town developers who are out of touch with Little Rock. If the Promenade meant much to Red, my guess is that it would be more successful right now, but that's just speculation.
Mostly I'm just adding my 2 cents to an interesting discussion here, though. I, too, am frustrated by the lack of any special stores in Little Rock and forums like this seem like a good way to throw ideas around. I'm really disappointed that J.Crew seems to have pulled out of the Promenade and frustrated by having to drive elsewhere to shop.