It looks like the days of the "Gentlemen's Agreement" are gone. Verbal Commitments don't mean anything. Coaches have made it clear that if they are interested in a kid who has verballed to another school, they will go all-out to try and "flip" the kid before national signing day.
For the sanity of everyone on this board, I would suggest that we don't treat every verbal commitment as a big deal. Personally, I would like to see an earlier signing option, so kids who are 100% sure about their decision can make it official. And the kids on the fence, or the ones who like taking OV's and getting wined and dined, can play their reindeer games up until the final signing day.
Bottom line - it's meaningless until that LOI gets faxed in on signing day. everything before that is pointless speculation.