Will IPL affect Indian cricket? I certainly think so. Because of IPL, a larger pool of players will benefit both monetarily as well as get exposure with the top cricketers around the world. But it is also influencing it in a bad way. Players like Ishant and Irfan seem to have lost their interest in playing test cricket after their millions in IPL. Now, Robin Uthappa gets above 2 million dollars, while technically correct players like Dravid and Laxman get picked up for 25% of this amount. If this is due to the latter's age, then even young players like Vijay and Pujara get paid much lower than this because they can not score at a maniac rate. I believe that the current test series in South Africa was drawn because of two main players: Laxman and Sachin. These players came through the ranks when money in dollars was not the prime criteria for performance or working hard to perform well.
Good cricketers, like researchers, should be nurtured and are unlikely to perform if money is the only primary criteria and if the atmosphere is completely commercial. This is one of the reasons why the top private Indian universities do not attract the top Indian researchers despite the 3x salaries.