That's a good question with no clear-cut answer (to me, at least). Each potential leader has his pros and cons.
Marcus Paige plays the "leadership" position at point guard, but as a sophomore is he old enough and/or assertive enough to be UNC's leader?
Leslie McDonald is the lone experienced senior, but is that enough to command leadership given that he's been the "6th man" during a good deal of his career?
James Michael McAdoo is the highest-profile player, but he seems to lack vocal leadership (at least during games) and exudes more of a laid back personality. Will he actively rally the players around him?
P.J. Hairston is UNC's emotional leader and possesses that "never back down" attitude, but have his off-court problems hampered his ability to lead?
It'll be interesting to see how it plays out.