Before Sept. 11, late checked bags were marked with a tag that said late checked, and often you would have to sign a waiver.
With TSA inspecting checked luggage, a late check bag could simply go through additional inspection. Cargo is not even inspected.
Earlier in the year when connecting in ATL, DL would not let me on the plane 7 minutes before scheduled departure, even though I was able to stand there and watch my bags being loaded on to the plane.