Wouldn't surprise me honestly. It'll be like Dre - he may sneak in, but he won't go undrafted or anything.
The thing that I keep coming back to is the fact that all of his comments have made it sound like he's done here. He "wanted to ride out with a P12 championship", he "feels like he let everyone down", etc.. He's closing the door. And I don't blame him. This is a kid who was thinking about coming out for LAST year's draft. So he's spent the last year mentally preparing to be done with CU and moving on to his next step. A step that has been a dream for his entire life. I've seen people say things like "but NBA teams won't be able to see him work out". There were 26 NBA scouts in Boulder for the CU vs Kansas game. You don't think those guys had seats to practice to watch him that week? You don't think those guys know what he can do? Workouts can help, yes, but more and more it's so staffs can see what the kid's mental makeup is more than anything else now. Also, there was word yesterday that Spencer is already back up to 90% range of motion in his knee and his surgery may actually be moved up to this weekend.
Finally, I keep going back to the fact that the Phoenix Suns have four first round picks this year. They have a GM who is one of the "new school" guys who loves analytics (a department where Spencer absolutely glows). They have a medical staff that is widely considered the best in the NBA BY FAR. It would not surprise me at all for Phoenix to draft him and then pay him to rehab.