Another problem with the model minority stereotype, I think, is that it's hard sometimes to distinguish between those Asians who are of average intelligence but study like crazy and do things just to look good on the college resume, and those Asians who are genuinely passionate and/or are pretty intelligent. On paper they might look pretty similar. So then a lot of the Asians who have much better potential - who aren't like conditioned semi-robots - get left out simply because they have the bad luck of looking like another silly studies-all-the-time-and-does-nothing-else Asian.
Ironically, though, from my experience a lot of Asian parents actually aren't that rough on their kids, even when it comes to grades - sure, they might expect As, but they probably aren't going to berate their kids about getting one B (actually I don't think any of the Asians I knew ever had to worry about their parents freaking over a B) and at worst just amiably encourage them to do better. Where I went to school, a lot of the Asian kids forced the high expectations
on themselves, and it was they themselves and not their parents who were the angry and disappointed ones when they got 2 Bs on a report card; and a lot of them forced themselves to go into the hard sciences and engineering when some of them probably could have done a lot better elsewhere.
So ultimately I think for us Asians an important thing is sort of changing the stereotypes of the model minority, since I feel like we've sort of taken it and made it our own... in a bad way.
Also, just to keep the habit of asking a question that supporters of racist AA always refuse to answer: how do we determine who is non-white and non-asian enough? Do we measure skulls? Noses? Run DNA tests? Use the "Third Reich Pocketbook for determining Races?". I once dated a girl who was half japanese, a quarter white and a quarter amerindian. Is she an oppressed minority in need of AA or a white-asian racial overlord that must be discriminated against?
Actually there was an article somewhere a while back about how many part-Asian kids are listing their race as anything but Asian, in order to increase their chances of getting into better schools. It's sad.