Full disclosure we have done the travel circuit from 13u up....I don't regret it, had a blast and would do it again. for your son to play D1 he will have to be in the top 2% or so of players... if he is that kind of player you are probably already aware of it. If he is going to play at D2 or 3 he is going to be in the top 10 or 15%, there are others who could have played that will chose not to.
I know that many very good D3 teams have many relationships with local legion programs and local "travel teams" that aren't going to GA and FL or AZ for tournaments. There are quite a few very good college D3 guys who simply didn't want to go far from home or couldn't afford to. Some of them are better players then the guys with PG grades who are playing D3 because they didn't have better offers...I also know that at least 50% of the guys at the WWBA and those types of events are pissing away money chasing a dream that doesn't exist. The real number is probably higher then that but I will be nice.
I will say IMO if you play travel, generally speaking, you will get access to more reps and higher level coaching then if you don't. There are outliers to that rule for sure but I think it is generally true. You will have more options and a bigger network advocating for you to more schools if you play on quality organization and again generally speaking you will be more battle tested vs higher quality oppositions if play travel... IMO most kids would be better served playing on high quality local travel teams that emphasis quality reps and instruction then traveling all over the country.
Your question was, what are his chances of getting recruited? I think if he is a stud there is no doubt, if he is a top 15% guy and he wants to do a little work, networking and maybe a local showcase or 2 he will absolutely be recruited but may have less options.