Here is the actual answer to the question posed last night "what does it take to get your jersey number honored". The answer is from this Adam Lucas mailbag in 2005 about why Ed Cota's number isn't in the rafters. The short version is, to be retired you have to win national player of the year. Jordan, Worthy, Jamison, etc, all did that (no player can ever wear the number again). To be "honored" you have to meet one of the 4 following criteria:
1. the most valuable player (as voted by his teammates) of an NCAA championship team,
2. a first- or second-team All-American,
3. ACC Player of the Year, or
4. a member of a gold-medal winning Olympic team.
so, obviously McCants, May and Felton all have met those requirements. Apparently in 1994 these requirements were relaxed (they were previously tighter) and 25 additional jerseys were honored (7 already were), the number is now 43. Also, Byron was right, Tyler was a 1st Team All-American last year (voted by some outlets, you don't have to get AP or to sweep for it to count) so his jersey will be honored.