So here are some things to chew on some of what I've heard, some of what I know and some of what I suspect.
The stadium would be 40-45k seating and one major private backer (See below). Not much knowledge of this concept at the coaching level of the university. Mayor Miner was somewhat caught off guard and this really speaks more to her marginal relationship with the Governor as this seems to have much more county involvement than City , at this point.
There are only a handful of private people/organizations able to back this thing. Congel is probably too toxic to be part of this. I don't see any way there is a Golisano - Cuomo relationship and I don't think Golisano would get anything out of it. I keep coming back to one organization when I think about who could and would get involved. Wegmans. They continue to expand on the east coast and would get significant ROI by getting the Wegman's name all in the minds of people in the Carolinas and Atlanta...etc. They could go after the Piggly Wiggly, Food Lions and other regional grocery stores.
Here's another aspect to consider:
http://www.syracuse.com/news/index.ssf/2009/01/liquor_store_owners_fight_wegm.html
Could definitely see Danny telling the Governor, we'll fund this stadium, but you let us go into the wine business without hassle.
Kennedy Square is a pretty good location from an infrustructure standpoint with some connotative drawbacks (its in a rough neghborhood, its not near campus, etc). The roadway access is more than adequate...and it could have a huge impact on what is done with route 81. There is space for significant parking and there are existing surface lots all over the place that could be used. Its not walkable from either Armory Square or Hanover Square for most people. So there is opportunity for business development nearby. I would guess this locations was settled on because its almost shovel ready, state owned etc.. Some things to consider with other locations discussed in this thread. Drumlins is a non-starter. Its a logistic nightmare from the traffic management standpoint. Skytop would be perfect IF, IF, IF it had access to 481 off the back side. It doesn't, and with the State looking at a huge investment to rectify Route 81, I don't see any way they would pony up to buid a new interchange near skytop. That leaves only a handful of locations. The near west side site that was going to be the baseball stadium a few years ago is probably too small. The inner harbor site is likely too remote and again, would be poisened by the Congel name. Thats probably why the current site was chosen.
The site really isn't much farther from Marshall Street. Its literally 1/10th of a mile farther from Marshall Street than the Dome. Logistically, getting kids from campus to the site is easier than the current chore of getting townies from Skytop to the dome...however, as had been mentioned, convincing kids to do it is another thing.
Not sure what I think about the retractable roof. Part of me thinks its beign floated as a s e x y option to gain public support, no idea how realistic it is. What will be most interesting is the level of control the university will be given over its use.