Here's yet another vote for Deferred Recruitment...I make an argument for it at least once a week.
I think it's better to Rush once the first semester grades have been submitted. If the first college grades have been submitted, you have a much better picture of how the PNM is academically. Everyone knows that HS grades usually aren't that accurate, especially when you're dealing with different school districts and grading scales. If Recruitment is not held until after first semester, you have people who are more aware of what they can handle academically.