As a devotee of Cornell basketball, I've seen Lin play a few times in person. He's for real. Quick, decisive, very athletic, great distributor, basketball IQ is through the roof. I suspect that he would've been heavily scouted by major programs if the term "Asian American point guard" didn't cause such cognitive dissonance.
The program that REALLY dropped the ball? The Golden State Warriors. With the Bay Area's significant Asian population, Lin could've been the most marketable local athlete in the country. But they chose to release him.