November wouldn't be too bad.
I think there are a lot of factors that separate football and basketball. For instance, those athletes in the elite class, are only making a one year decision. Also the fact that the championship gets decided by 64 team tourney in which everybody has a chance, if they win. Its also a much more individualist sport, I understand that there is a team, but one player on a basketball team can make a much bigger impact than one on a football team. So making the early decision to go to a smaller school doesn't automatically disqualify you from winning a NC, I think that goes along way in whether or not an athlete would regret his decision.
I will also revert back to the point about adults vs children. You can say that no one is making them sign early, but you don;t what is being said to that athlete. A grown adult could very easily manipulate an athlete to make a decision that is not in their best interest. Especially when there's uncertainty about that senior season.
I don't think the early signing period changes anything about pressure on athletes, it just changes when it happens and makes them make decisions before they have all the information. The preventing of late defections only helps the school and does nothing for the athlete. I can't see anything wrong with a kid changing his mind in the last hour because they believe its what's best for them, good or bad as it may be for a school like USF.
I'm going to side with the athlete, they need more time, a change in the transfer rules.