Elliot Williams didn't spend too long without a school. It was only about a week ago that he left Duke, and now he's off to Memphis. It's a bit too early to say anything about this since we don't know if he'll be allowed to play next season. He's asking for a waiver from the NCAA so that he won't have to redshirt a year, but there's no obvious reason why he'll get one. If he can play next season then Memphis suddenly becomes a potential Top 25 team. If he can't play then they again fall back in the region of a 9-12 Tournament seed.
The question now becomes whether the recent recruiting coups of Josh Pastner are real, or a fluke. What I mean is this: Latavious Williams fell into their lap because of his academic problems and the fact that no other team really wanted him. Elliot Williams grew up in the Memphis suburbs and is just coming home because his mother is ill. Will Memphis be able to grab big time recruits through the normal recruiting process? That remains to be seen.
But at the very least, there is a lot of evidence that there will be life after Calipari at Memphis. They've definitely had a great turn around over the past few weeks.