I think you and I have different definitions of "witch hunt". Sure, maybe one or two people have come out and slammed Cuban for his comments, but for the most part, I don't see anybody condemning him or using what he said as anything other than a lynch-pin for dialogue. ESPN is talking about it because it is important discussion, and, by making the comments in the first place (on record), Cuban was inviting that sort of thing. So I think it would be best to drop the notion that Cubn is somehow a victim here.
Secondly, his comments, in isolation, weren't overly offensive (at least not to me, I can't speak for the black community), but they were definitely problematic, especially in light of the Trayvon Martin tragedy. It seems to me that a lot of white people are trying to use fear as means of justifying their prejudices rather than confronting their bigotry head on. You're obviously not on the same level as South Tampa Bill with your racism (in fact, you're probably in the majority), so I think your post at least dignifies a response and discussion. But, with that being said, if all it takes to instill fear in you is a black kid walking down the street with a hood on, then I think it might be time to take a look in the mirror and ask yourself why that is (hint: the problem is with you, not "socioeconomics", or whatever crutch you're trying to use).