My son and a couple of other players were recruited late. I think they were considered 'nice to have' rather than 'must haves'. All were offered as walk ons the first year, money promised the next three. School promised they would treat them just like the guys getting full rides.
Son took the gamble (his choice, I was nervous). All three of them were playing regularly by middle of freshman season. All had tremendous work ethics, worked their butts off and earned their way on the field. I know you can't trust everyone to be truthful about these things, but for us it worked out great.