While I realize the NCAA calculation method may be at fault, the N&O ran an article today about graduation rates for area schools:
http://www.newsobserver.com/sports/story/725370.html
Unfortunately this link does not have the table that was in the paper, but Duke's graduation rate is 67% for men's basketball. Again, adjusted for early NBA defections, transfers, etc I am sure the number is much more Duke like, and while its hard to look at 67% not being orders of magnitude better than 0%, I would have liked to have seen a higher number for dear old Duke :-)