From the Clippers site:
The Los Angeles Clippers added another piece to the team’s backcourt with the signing of guard Guillermo Diaz today. Per team policy, terms of the deal were not released.

Diaz, the Clippers’ second round selection (52nd overall) in the 2006 NBA Draft, averaged 20.1 points, 3.1 rebounds and 3.3 assists in 15 games played for CEZ Basketball Nymburk in the Czech Republic last season. Diaz also played in five games with AEP Olimpiada Patron in the Greek League in 2007, tallying 13.0 points per game.

A 6’2” native from Puerto Rico, Diaz contributed 10.2 points and 3.2 rebounds in five games played for the Clippers entry in the 2007 NBA Summer League in Las Vegas.

Over three collegiate years at the University of Miami, Diaz tallied 15.9 points, 3.4 rebounds and 2.6 assists per game. Diaz led Miami in scoring as a sophomore and a junior and was named an All-ACC Second Team selection following both of those seasons.

This news doesn’t bode well for Messrs. Jordan and Conroy.  With the recent Knight signing, Diaz would be the team’s third point guard, though truthfully, he's really a combo.  Of course, there's always a possibility the Clips will sit him on the taxi squad for the lion's share of the season, or even cut bait.  

Diaz put a lot of work in last summer prior to the draft to improve his fundamentals and grow into something more than just a slasher. Here’s a little morsel from Hoops World’s draft camp write-up of Diaz from last summer, which includes some impressions from Diaz of his workout with coaching guru David Thorpe:
"[Thorpe] has really helped me with my ball handling, helping me to be a real point guard. He has been pushing my limits. Last year I was very explosive and this year I wasn't that explosive. Now I'm getting back to the way I was before and it's because he pushes me every day to get back to being that type of player."

My limited ACC memory of Diaz is a lightning quick combo guard who could take anyone off the dribble, but had a pretty good instinct on when the put on the breaks and release a quick mid-range jumper.  He was also no slouch from the college 3, hitting 78 of 214 [.364]. 

To be further discussed.