This from ESPN insider:
After looking at the 19- and 20-year-old rookies, typically guys who played just a season of college ball, we will examine the 21-year-olds, who fit in the "sweet spot" of having played two seasons, or perhaps three, of college ball. These are guys who entered the draft after either going back to school to improve what was already a decent draft stock, or because they would not have been drafted the previous June. This ranking is based on what each player would look like if he fully realized his potential, whether that is likely or not.
Waiters has All-Star talent. He isn't quite the athlete that Dwyane Wade is, or the shooter J.R. Smith is, but he has a lot of both of their talents with some Eric Gordon mixed in. If Waiters reaches his potential, he is someone who will be dynamic off the dribble, attacking relentlessly and earning six-plus free throws a game, at minimum. His explosion step is impressive and his body can play through contact on his way to the rim, like Wade.
Waiters just has to learn when and where to shoot, focusing on making shots and not just taking them. His slashing ability and good feel for finding teammates means he can be an excellent playmaker, and partnering with Kyrie Irving is giving him a great glimpse of how a player can balance scoring and playmaking for others. In Cleveland, he may ultimately be forced into aJason Terry/Manu Ginobili-type of role, which would suit his talents perfectly.