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Speaking from a highly competitive Recruitment standpoint, there is good and bad in the Release Figures System. We all know the (potential) good for the small/less successful chapters. More PNMs get invited back and since many of them may have been cut early from large/more successful chapters, they are hopefully more open minded and realistic about their chances. Along with that, the large/successful chapters aren't inviting back X# of PNMs just because they can, stringing them along with no intention of offering a bid.
But there is a down side. Just like with Panhellenic's assumption that every chapter should be happy to invite/pledge every PNM, they also have the assumption that every PNM is willing to join any chapter. Let's face it, on highly competitive campuses there are a lot of PNMs who firmly state "I want to be an ABC or nothing". There are some who take the position "I'm willing to be anything except an XYZ". No matter how many times they get invited back to a certain chapter they will never consider accepting a bid.
There's also a significant drawback for the large/successful chapters that I haven't heard talked about much. Having to cut such a large percentage in the early rounds means these chapters have to make drastic decisions without much information. You've got the 15 minute 1st round party where maybe 2-3 actives talked to a PNM, Recruitment application and recs to base decisions on. That's not a lot of info to make huge percentage cuts. There is less chance for those unknown "discovery" PNMs (especially out of state) to be invited back, someone who the chapter didn't know squat about before Recruitment and ended up falling in love with her. A chapter that is blessed with being highly successful has to practically set their bid list already on day 1 of recruitment.
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