It is probably not too early to start this up. I love the team and the success they have had this year so far, but in order to go far in the tournament they've got to step it up.
The lack of physicality on this team is a noticeable issue - they have gotten eaten up inside by teams with a halfway decent big man.
Trey Burke is the only one who can create offense for others. No other players can penetrate to the hole with regularity. You slow Burke down and Michigan suffers.
You're not going to get very far on jump shots alone. Take it to the hole.
EDIT: The defense is average at best. Get in front of someone and cut off drives to the hoop...PLEASE.