I think they are pretty accurate, bing that they are more than likely based off of last year, and that a game has not been played. Many will play most if not all players in scrimmages, so to think that a team is overrated in Feb. is obsurd.
but you really don't know much about teams until they begin region play. This is when the coaches have hopefully found their team's formula for success.
Everything up until then is basically just an indicator of how good or bad a team can be.