I do hate this aspect of LOIs - I have no problem with the 'must sit out a year' as I think that puts a moderate restriction on 'impulse' decisions without damaging a player unduly. I have a little more of a problem on the 'two year in conference' restriction. And I guess I am OK with a school listing a very limited number of schools to which a release will not be granted as this allows for protection from coaches jumping and unprovable but suspected tampering.
I particularly dislike the enforcement of this rule by schools that have fired their coaching staff as they have truly changed the playing field for the athlete.
And ... in terms of early signing periods - if I were the parent of a recruit I would certainly suggest that my child wait until after the college season their senior year to sign the LOI - no problem in making a verbal commitment to the coach, but making sure that first year was in fact going to include the coaches we got to know would be important. Committing to Uconn or ND or Baylor or Stanford ... ok, long standing coaches that are guaranteed to be around because their program is very successful. But programs with mediocre results even with long standing coaches can change pretty quickly, and that is becoming more common.