I almost agree with your comment above. I would say that 2 way players ARE usually the best players and played almost every position. At some point, some of those guys become PO's. I see a TON of PO's in all the major tourneys that are PO's because they CAN'T hit well or aren't athletic enough to play any position other than pitcher. They may have a great arm, but it ends there relative to their position/hitting talent compared to position players.
I would say I see more of those than 2 way guys once you hit 16 and older. Ditto at the HS level. There are a large number of players that wouldn't make the team as anything BUT a PO. In some cases, they are a top level pitcher and in others, they are the middle of the bullpen guys.
Nuke83 I think we must be neighbors because that is what I have been seeing and hearing about too. There seems to be a great divide in the Atlanta area that if you are seen as an excellent pitcher it is almost assumed you are/will be a PO regardless of your other strengths. Perhaps it is due to a large talent pool, as previous posters have said, and/or because our schools are so large, but that is what I have seen around here.