I watched the Kentucky game last night vs. Alabama. Whoever was calling the game for ESPN (I think Bilas?) said the only two players on Kentucky who were capable of making an NBA roster next year were Randle and Cauley-Stein. While I don't always agree with the worldwide leader's assessment, I agree with him on Young (and Kentucky in general, although I think Dakari Johnson wouldn't be a guaranteed flame-out if he went pro). He takes a lot of 2-point jump shots, and isn't terribly good at them. He's good at the spot-up 3-pointer, but is too willing to take them off the dribble. He turns the ball over more than you would like for a wing -- Bilas implied that was due to his poor handles, although maybe it's due to bad decision-making and/or poor coaching. He's athletic, and probably could become a good defender, but doesn't know how to do it yet.
It's tough to say. He needs coaching. He's not getting that at Kentucky. Maybe he would improve at the pros, but you really shouldn't be learning how to play basketball in the NBA. I'd personally stay away -- his ceiling is probably a starting role on the wing of a good team, but his floor is the same of all the wings who don't make it to year 4 of their rookie deal, and then bounce around for a couple years on minimum salary contracts. While that might sound worth the risk, I think he's much much more likely to hit his floor instead of ceiling. I think there will be players with similar ceilings who have a better chance of reaching them, or at least will be more useful if they don't, available at that second pick.