I think Terrel Hunt still has a great deal of upside. In terms of his abilities I think he's fairly average, fairly average arm strength and speed, but the key is it's enough to leverage. He is fast enough to have the edge against the typical front defender and break into the second level consistently. His arm doesn't wow you, but it's strong enough to deliver the ball well in the short and medium ranges, yet capable enough to take a deep shot often enough to keep the secondary honest.
I disagree with those discounting his athleticism, he's got very good size for a QB and throughout the season took some big hits and never looked rattled. He's a tough customer, and has a reputation as a very hard worker in the weight room. Sure he's not blazing fast, but as I said, he's fast enough. And he is very shifty for a big guy and runs with great vision.
I agree with the thoughts on what he brings in terms of leadership and intangibles, it was clear early on that there was a different energy surrounding the team when he finally got in against Northwestern and then again with Wagner, the team just seemed to respond to him and the difference was conspicuous.
The more this kid sees game situations, and more importantly game speed, the obvious improvements he needs to make in the passing game (speeding up decision making, exploiting coverages and reads, anticipating windows and seams, delivery and touch on the ball) are going to accelerate.