I can't really say a darn thing personally because the cut off in MD moved to Sept 1 the year my son entered and he's a September baby so he was legitimately one of the oldest in his class (except for the reclasses). Plus he was always very tall. He played up on his travel team until HS and no one could tell. Oldest sister is a January birthday when the cut off was Dec 31 and both my husband and I were on the older end of the cut-off for HS sports although I went to college a year early. The only one who is not a Gladwell kid in our family is our middle daughter and she's doing great. She would have gone crazy with an extra year of school.
What I can say is I've seen reclassing work and I've also seen it be a huge waste of money. Sometimes a kid really needs an extra year to mature and to let puberty catch up and sometimes it makes no difference at all in their recruitment or where/how much they end up playing.
Someone above said college coaches like older. I think there is one serious clarification to that. All things equal they prefer an older, more proven player. But just being older doesn't cut it. If a freshman coming in is a superior athlete and produces s/he will play.
FWIW, during my son's recruitment (so pre-COVID...2019) three ACC and SEC coaches sat behind me at Lakepoint talking about reclassing and they all thought that it was overused. One coach's perspective was that there are only so many bullets in an arm and another's was that a lot of guys only get older, they don't necessarily become a better prospect. They all valued players willing to come in and work hard to earn playing time. Please don't kill the messenger. Just sharing what I overheard.