Point of order, 2nd session is already 3 days. That's not entirely clear from the original post. In Naismith, for example, 2nd session starts Friday morning, signings start Friday at 5pm EST, final cycle is Sunday evening at 11pm EST. 10 total signing cycles. My preference is for 1, maybe two of those first cycles in the 2nd period be signing-free *for late preference recruits*. I'd let the others go ahead and sign right away. Just code the late guys to sign the last 8 or 9 cycles, instead of the last 10.
The bigger issue is to make sure there are a rational number of elite recruits wanting to sign late. IMO, 40% of 3 star and up recruits should prefer late, and 30-40% should be whenever.