I appreciate everyone's comments. They've been informative and some good points have been made. That said, I'll be sticking to my own policy of not jumping on another coach's recruit out of the blue in the last round or two before signing. At least at the D-III level. One of the better points made, I thought, was that recruiting at the D-I level is by necessity more of a bar fight. But at D-III it just doesn't make sense, either in terms of available talent or in terms of available funds.
As for the situation that got me to start this thread, my frugal money-ball recruiting of previous seasons paid off. I was able to land the recruit that was jumped and do it while stringing the other coach along until the 6am round this morning. I suspect he dumped more money on him than he intended or could afford. We'll see if he's able to now land a full class.
I also took the opportunity to jump on a great DT recruit that I saw was green on a coach that late-round jumped a DT recruit of mine a couple of season ago in another world. That felt good. Completely blindsided him on the noon cycle, not unlike what he had done to me. I noticed he appeared to be in a couple of other recruiting battles, so we'll see if he recovers and lands a complete class now.
Bonus of it all I somehow still managed to leave a few coins in the war chest. I'm thinking next year I may just have to go back and jump another recruit or two from those coaches. You know, just to put an exclamation point on things. ;-)