I know it is late to be weighing in on this, but I have given it a lot of thought. I think my views can best be summed up by Thomas Jefferson when he said
"The policy of the American government is to leave their citizens
free, neither restraining nor aiding them in their pursuits."
There is a difference between government and culture, and the former should not try to dictate the latter. We can not tell culture what to value or disdain, we can only make our individual choices. Aiding some students and restraining others based on their looks doesn't seem like a good idea to me. We can never be a truly color blind society as long as race is even a factor in admissions. To me, the key to making minorities better off is to change the culture of that minority, and that can't be legislated – it must start at the roots. If inner city African Americans developed a passion for learning greater than what they currently have for basketball or hip-hop, this issue would quickly go away.
UPDATE:BusinessWeek has a good commentary on this.