IMO Colaiacovo is good enough to be at least an AHL goaltender.
He was chosen in the WHL draft, so who knows what happens there.
I'm sure that he'll be invited to someone's NHL camp this year, and whether he performs well or not, he could manage to sign an NHL contract, as most of the CHL free agents do. It's very rare to see CHL FA's sign this early because teams are concentrating on the NHL's free agent crop. You'll see guys get invited to rookie camps or even the main camp and then possibly signed.
If not then I could Cola getting an AHL/ECHL contract with a team at least then.
I personally think he's good enough to stay out of the CIS (the dumping ground of the CHL rejects if you will).
Barrie wasnt exactly the best team in the league and Colaiacovo was a workhorse for them last year. He was the main reason for their solid play.
So we'll see what happens.