I posted this over on MarchtoMarch, but I thought it would be better received over here. I talked to a person close to the situation and he says LJ has the Longhorns out in front of teams like KU, Oregon, and Baylor.
It's huge news for a couple reasons. LJ is the top point guard in the 2012 class and he's got all of the tools. He has great size, great vision, a terrific feel for the game, and is a dead-eye perimeter shooter. He's the total package as a combo guard, but he can run the show at the one. If Kabongo were to stay and extra year, LJ could slide over to the two and wreck shop.
Here's LJ clips from the 2009-2010 USA DNT. Keep in mind he's a year younger than most of the kids he's playing against in this film.
http://www.youtube.com/watch?v=Q4M_Ywq5cpM