Well, he sounds like a good candidate to go and compete? The "further evaluation" you reference is important. And a valid reason to go to a showcase like this. Some people will say you can borrow a radar gun, you can go to the track with your own stop watch, etc. and save the money. I am a firm believer in the heightened stakes that a public showcase like this one you reference provides.
I applaud your son for "throwing his hat in the ring" to see how he matches up. His #s, assuming you get a written eval with his 60-time and velos, should help him in his search. And also hopefully get some exposure from schools he is interested in there that day.
Good luck.