This is old news and was discussed ad nauseum months ago on college-related boards.
http://www.hbs.edu/mba/admissions/ad...ncriteria.html
The link above discusses admission criteria for Harvard. Even if the applicant does not have a BA/BS, the GMAT scores must be submitted. With an average score of 707, I'm sure that this particular applicant must have a truly stellar score to outweigh his lack of undergraduate education.
Personally, I'm much more confortable with the admission of this young man to Harvard as compared to the Yale acceptance of the ex-Taliban member.