I really wouldn't write this one off yet - the convection has been persistent and it has maintained some organisation for the past couple of days. I think it's too well organised to be able to stick a fork in it with a reasonable degree of certainty. In the last 3 years we have had 3 systems that have degenerated, only to emerge again a short while later:-

Chantal, 2001
Isidore, 2002
Lili, 2002

This system could develop a LLC, as they come and go with ease in young and developing systems. Also, imagine if this wave were to make it to the Gulf - strong potential for development there. I would not take my eyes off this system for the next day or two.

Just my humble opinion.