CoachV ...
First off, let me congratulate your son for being in a position to even ponder this. That is a very good thing, yes?
Secondly, when our son was being recruited for college ball, he talked with most of the recruiters about the same thing. Save one coach in particular, they all had big grins on their faces and told him that if he could do it, they were always looking for players who could help in anyway possible.
The coach that eventually because his college coach, however, qualified his comment by saying that he had had several players in his career (which was a very long college coaching career) who tried both their first year but found out that it was too difficult at that level because they were actually trying to fill TWO FULL TIME JOBS, which he felt could not really be done successfully.
Some players do quite well at both ... continuing to perform at a high level in college and even into the pro game. The Diamondbacks' AAA player Micah Owings is a good example of a pitcher who pitches very well and can really hit. But even tho he played on the field when not pitching in college, as a pro, he isn't a utility player when not on the mound, he is "a pitcher who can hit and help himself"