Yeah. They are not vetting this through the NCAA at this point. Everyone involved is aware of all aspects of the appeal.
IMHO, the panel is just working at its normal pace. They simply don't want to be viewed as making a snap judgment no matter their decision. If they deny the appeal, they don't want James to feel like his appeal wasn't taken seriously, if they grant the appeal they don't want to appear as a rubber stamp.
Gonna guess we'll hear Monday or Tuesday as I doubt they do weekend work.
Also want to add that I firmly believe James appeal was vetted through the NCAA prior to it being filed. I don't think anyone wants a repeat of last year where melo was ruled ineligible for the NCAA tourney.