We won't know if this was a good or bad move until the actual Draft. Word is there are enough teams interested that he should be selected in the first round. Regardless, I think Reggie will be a good pro. He's very versatile offensively and has a great frame for perimeter defense in the NBA. The only things he is missing has been consistent defensive effort and the ability to be a true point guard.
This is obviously a setback for Steve Donahue, but the coach must have known for weeks. The only brightside is that expectations will be very low. If Donahue can keep his new squad competitive it will be a good sign for future seasons.