Michigan, in my opinion, is the most deserving team of a #1 seed at this point. They've walloped three very solid teams in Villanova, North Carolina, and Purdue. About as impressive start as any team could hope to have.
Also, it's weird to see Virginia Tech as a projected 2 seed with a decent chance (16%) of earning a 1 seed. Alexander-Walker, Robinson, and Hill form one of the most dynamic backcourts in the country. Still, it's still weird to see Virginia Tech that high. Just used to seeing them being middle of the pack, occasionally flirting with the top 25.