Number of students seeking biglaw and number qualified and worth a firm competing for are two totally different things. Just because someone at Cooley wants biglaw, doesn't mean they will get it. Good economy or not.Also, with regards to "when every firm does something it isn't scrutinized as much," while I agree with that statement, it has still yet to be shown that many firms are rescinding offers. There are rumors of it, but nobody has yet to mention a firm doing it by name and it's been nothing more than the usual gossip.
You are obviously right about no hard proof on the rescinding of offers. I don't really know if/when we would get such proof though. I'd say ATL info is suspect and I really don't see the mainstream media getting interested in the plight of the law student/lawyer anytime soon so I guess we are somewhat stuck with rumor mill at the moment.
Wouldn't you rather go to a firm that bites the bullet and gives offers to everyone despite being oversubscribed, and then makes up the difference in the next year?