I think we need to look beyond the Mr. Hockey winner to truly evaluate what MN is putting out into Div and beyond. This article is 1 year old, but it's recent enough regarding current seasons:
http://www.letsplayhockey.com/971kurtt.html
Professional Hockey
Total Minnesotans: 181
National Hockey League: 41
2008 NHL Draft
Total Minnesotans: 11
NHL Cental Scouting Rankings for 2009 Draft
Total Minnesotans: 24
Skaters: 22
Goaltenders 2
College Hockey
Total Minnesotans: 887
Division I: 332
Men: 200
Women: 132
Division III: 555
Men: 305
Women: 253
Division I Commitments
Total Minnesotans: 83
Men: 67
Women: 16
Junior Hockey
Total Minnesotans: 308
Just Minnesota College Products
Total: 42
National Hockey League: 13
American Hockey League: 10
East Coast Hockey League: 9
Central Hockey League: 3
International Hockey League: 2
European leagues: 5
Currently in Div I you have guys like Connolly, Polacek, Bordson, VandeVelde, Braun, Bergland among others performing well this year. For more recent pros there are Martin, Ballard, Leopold, Oshie, Stoa, Johnson, Backes, Goligowski, Okposo, Wheeler, Parise and Smaby, and I'm probably missing others. Also strong performances were made by several MN kids from the recent Gold medal U20 team.
Also keep in mind that even a place such as MN is going to have peaks and valleys with respect to the talent coming out of the state. The "OMG! BST PLAYRZ EVAH!!!" aren't going to happen every single year. Also the importance placed on practice vs. games at lower levels has returned to several key youth programs withing the state. Given all that any talk of a demise in MN hockey has been greatly exaggerated.