Here's another article about Coach K's press conference Wednesday where he voiced significant optimism about the coming season. A lot of fans seem to have lost hope when Elliot Williams left, but Duke has an experienced team with a lot of versatility, and a coach who has been at his best when his coaching imagination is challenged.
For a couple of quick points, consider: 2000, when Duke had one guard and a one-man bench in Mike Dunleavy. Or take the mid 80s team with Robert Brickey essentially playing center - at 6-5. Or the concept of "conveyance," when Duke had no point guard at all.
Figuring out defense will be a challenge, but anyone who is ready to give up this early should probably give up caffeine or something.