Do the coaches ratings develop and/or regress over time?

yes they progress between seasons, they also did in the previous version, but in this version you get a mail notification.

I like to develop this thread towards coaches with asking if the coaches reputation and records have any influence on recruiting as the teams prestige.
If not I think it should. Some colleges that are able to sign a hig valued HC looks to get some better recruits in the bargain when recruiting starts.
I can't give a direct proof of it, but over the years you tend to see some extra top recruits goes to schools with a "legend" HC not only based on the prestige of the school.

Naturally as in College Basketball we would be very happy to see history on the coaches and even the teams already in when starting a new save. Can't be that hard to do. If not time I'm sure some will mod it in if it's possible.