http://test.whatifsports.net/whatifsports/forums/Posts.aspx?topicID=420496&page=2
Whenever: Will now have about 50% chance of signing at some point in period 1 and 50% chance in period 2.
As Soon as Possible: Previously, these would sign almost definitely within 18 hours of the start of signings. I'm going to spread that out longer, so that they will definitely sign by the end of period 1, but not quite as quickly as they were.
By the end of period 1: Almost all will sign by the end of period 1, with odds increasing each cycle.
Late: None will sign in period 1, but almost all will sign by the end of period 2, with odds increasing each cycle.
Here's the change log for what it says for the signings. You can interpret this however way you want to Spud. Go for it. And all the newbies can make up their own minds about what this means too.