I guess I am one of those "you can't tell anything from the PTL" crowd. All I care about are the current Iowa guys working on their weaknesses. I will admit I am biased I am from an era where I thought the PTL was just a glorified pick up game.
You can watch a player on the court all by himself and see a lot about how good of a player he is. You can still see ball handling skills, how quick someone can drive to the basket, how quick a player gets his shot off. To me it's like watching a runningback's highlight video against bad competition. You can still see how quick and agile he is.