Yes, I'd entertain both of those hypotheses before the hypothesis that it's the Greek alphabet, unless there's additional evidence beyond that potsherd. Perhaps if they ever decipher Linear A it will shed additional light on the prehistory of Greek. Linear A has a character that looks like somewhat that Upsilon/Delta character I mentioned--see for instance left-hand pic, second row, third character from right:
bttt, with a link to a related topic:
Macro-Etymology: Paleosigns [writing 20,000 years ago?]
Macro-Etymology Website | prior to May 20, 2005 | the webmasters thereof
Posted on 05/19/2005 11:00:18 PM PDT by SunkenCiv
http://www.freerepublic.com/focus/f-chat/1406892/posts