If we were to do rising senior summer again (and assuming my kid would've been healthy), he'd skip playing on his travel team that did the national circuit because of what the other posters said - very few of the HA coaches are present - and would've considered joining the Elite National Academic team that hits up the Northeast HA tourneys. Showball is still relevant and son went late (October) because of injury. In their coaches panel that included Harvard, Rochester, Swarthmore & Johns Hopkins, they gave us this appropriate advice:
"If your travel coach guilts you into playing in a meaningless local tournament that none of us are attending, I question what they are doing for you besides taking your money. Travel organizations should be doing whatever it takes to prepare & place their players at the next level."
This literally happened to us by our travel coach this fall (!) when my kid told him that he's going to Showball + a couple of camps instead of 2 dumb Five Tool tourneys where only some local schools (of no interest to him) would be present.
A buddy's son who played for an Ivy didn't even play on a summer team - only trained & did camps + showcases rising senior summer and it worked out for him.
My kid also proved you don't have to play any meaningful baseball your rising senior summer to have a shot, so I think your gut is spot on.
I also second this, I think you'll waste a lot of money on guess work if the right coaches will be at the right tournaments the travel team goes to. Or that your son will be pitching during the game they are in attendance. IF it's not a program that has your coach contact college coaches before the tournament to let them know who will be there and confirm they will see your game, I'd not waste my time.
Target the schools your son wants to go to and contact them, spend your money on camps and showcases run by or attended by the specific schools your son is interested in AND Make sure they will be there and they know you are coming.
If your son wants to get some game time in. Check out city leagues or Pony/Thoroughbred leagues, There are some that will allow younger guys to play on much older teams, it's a good place to get work in without a major commitment and you can't beat $180 for a season, and not traveling, paying for hotels and airfare, while spending more time in the weight room.
My 16yo did that in the fall, catching for 23u team and they were as good as anywhere else he could have played in the fall. And the pitching was better. He's been asked to come back in the summer when it's mostly college and post college players. There is something to be said about being around older guys, more mature guys, and calling a game as a catcher. After all, they don't break college teams into age brackets, you have to deal with upper class-men. I was asked if I worried about what older kids may talk about with him, I told the person far less than what kids on his HS team did. He really enjoyed playing with the guys.