Quote from Longhorns:
The TE position is riddled with "can't miss" busts. Here's a sample...
"Of the 41 tight ends drafted in the first round since 1967, only eight have posted even 400 receiving yards as rookies, and only six have had 5 or more touchdowns. Recent history is similarly uninspiring; the 14 first-round tight ends drafted since 1995 have averaged 270 receiving yards and scored a total of 24 TDs in their rookie seasons."
http://www.fantasyindex.com/Factoid071105.html
How many of them ran a 4.38 and led the ACC in receiving? How many did more bench press reps than the top rated OT?
I also think those stats you quote might be a bit misleading. Some of those guys were primarily blockers, some played in systems that didn't look to throw to them and some played for crap teams with bad QB's.
If this guy had been a wideout, with his numbers, he might have been even more coveted. He's faster than almost any of the top wide receivers drafted in the first round in prior years.
Most teams try to cover the TE with the strong side LB. There is no LB in the league that can run with this guy. Never has been.