Probably pretty prevalent for both basketball and football athletes.
I've heard some stories from students that would shock you, but it's interesting to hear it from the teacher's point of view.
My only experience was a positive one, but there weren't many FSU players in the College of Business when I was there. I had Christian Ponder in one of my high level real estate courses and he was extremely bright. He sat in the front row and always had something to contribute to class conversations. He was also always one of the first people to finish the tests. Myron Rolle was a Rhodes Scholar and ended up accepting the trip to Oxford. I never had the opportunity to meet him, but always wanted to.
Unfortunately, the bad far outweighs the good. I can imagine that teachers feel helpless at times when dealing with some guys.