USB 2.0 Devices on USB 3.0 HUBS - Data Transfer Speed Question - Engineer Please!?

Technically, yes. As long as the hub you are using is USB 3.0 compliant. Realistically, even though the USB 2.0 devices are not limited by the bus bandwidth, they will still function at the speed the device itself runs. For example, many storage devices such as standard flash drives have a "RMS" transfer rate of around 20MB/s (general ballpark figure). If this USB 2.0 flash drive is plugged into a USB 3.0 hub, it will still transfer at 20MB/s even though the max transfer speed of USB 2.0 is approximately 60MB/s (and in comparison, USB 3.0 has an approximate max transfer rate of 625MB/s).