A great piece by moe.square at RaptorsHQ.com:

If you don't believe me that it's hard to forecast young talent, just read this excerpt from CBS Sports from Nov of 2010 courtesy of Matt Moore when Mike Conley was signed to his 5 year $45 million deal:

This, this right here, is not just the worst move in the history of the Grizzlies, but it is the shining golden cap on the mountain of terrible moves made by NBA owners over the past 2 years. It is this, exact move, that nullifies any argument the owners can possibly make that they spend their money responsibly inside the current CBA. It is this contract that overshadows Joe Johnson's contract, Amir Johnson's contract, Darko Milicic's contract as the single worst contract handed out in 2010.

Here's more:

1. Conley surrenders a .96 PPP in Isolation, giving up free throws over 16% of the time. In pick and roll, a .82. It's not horrific. It's just miserably average-to-subpar. This at the most important position on the floor. Bear in mind that Conley plays in a high-octane, weapon-loaded offense that allows him to get out in transition and get easy buckets. Yet he turned the ball over in transition 16.7% of the time.

2. Advanced stats don't look much better. Conley has never posted a +15 PER, the benchmark of an average player in the league. Conley is only 23, but it would require a monumental improvement in several categories for him to reach the point of actually deserving this kind of contract.