I'm not a Gator fan so I'm no expert, but my take on the situation was that Leak didn't really mesh well with Urban's spread offense last year. It was thought that he wasn't the best fit and he did struggle at times last year.
Florida recruited one of the best QBs in the country this spring, Tim Tebow. I had heard word that he may even push Leak for the starting job (I can't possibly see that happening though).
There is also another school of thought that says Leak will be vastly improved after a year learning the new offense and this could be a breakout year for him. I think he is a very good QB and I don't see why this wouldn't happen.
However, as a ND fan (and one who was at school when the Urban Meyer debacle took place), it makes me happy that Meyer couldn't get Leak to grasp his offense. And I hope everytime Leak (or any other QB he gets) screws something up, that he thinks about Brady Quinn and the job he passed up because it was too hard.