Based on what I've been hearing I'm going to pass on NCAA '12. It really does sound like it's a lot of the same dumb crap and problems that have plagued the game for the past 5-6 years are still present. So there is no point in shelling out 60-65 bucks for essentially the same game, with the same problems/glitches every year.
There aren't too many great 3*'s, but over time if you are a higher rated coach, they become pretty darn good by their junior years.
See I hate that because it's not reality (and I realize that it is a video game after all) but as I said, if the goal of the game is to get as much realism into it then that means, at least to me, that the realism should be across all facets of the game. In real life there are numerous really talented 3* rated kids who come in and are ready to play right away...and they're on just about every team in college football.
Totally different conversation alert: Based on what you said, to me that speaks to an agenda that the makers of this game have. They want to condition people to think that signing anything less than 4*'s means you'll have a team that will be "talentless." In some respects they are succeeding because there have been Husker fans on this very site who have bemoaned that fact that Nebraska is signing a bunch of lowly 3* or other team's "leftovers" -- but I terribly digress.
So yeah, based on what I've heard, I'll pass on '12...