I'm implying that I know more about football than you. Suck for Luck wouldn't exist if Luck was a Junior.
Luck's accuracy is no big thing. His big thing is his brilliant ability to read defenses even at the line of scrimmage, something that many college QBs fail to do. I should know, my buddy's something like the fourth string at Michigan (he's a freshman though it somehow says SR since I know that he took a year off of school - Alex Swieca). If he was praised for his accuracy, he'd be considered the same as Jamarcus Russell (Russell had distance, Luck has "accuracy").
However, Luck is only DECENT when under heavy pressure. Not pressure to win the game but when the defense gets penetration. The second that Luck has to start scrambling, his accuracy becomes something akin to "shit". He needs to work on his rollouts a lot before I can get behind the Luck hype.