Well, a lot has changed in the past 24 hours. Friday still looks not as significant as originally expected. Of course still a risk of significant severe weather as per the SPC's 30% area. One of the main issues is of course the poor moisture quality. You might think by the fact 60F dps are already along the coast by as early as 00z Thursday there would be plenty of time for northward moisture advection, but the depth of the moisture is extremely poor. The moist layer is less than a km deep in places and subsequently daytime heating will mix the dry air to the surface both during the day Thursday and Friday, meaning on Friday its harder to overcome the slightly warmer mid-levels and instability is low in areas with the best wind profiles.

Certainly not a write off though, and if later uptrends in the boundary layer moisture become apparent just 1-1.5kj/kg of surface based CAPE could be sufficient for an EF2+ tornado threat given wind profiles. That's the UKMET kind of scenario, currently supported by ICON. GFS and NAM would most likely be a limited threat and the ECM is somewhere in between. That's just referencing the supercellular tornado threat, however. A QLCS tornado and wind threat are much more of a given further north, which will bring a widespread severe thunderstorm risk anyway and is probably driving that SPC 30%. Even the GFS scenario could easily be a wind-driven MDT for MO into IL with a strongly forced line coinciding with a dry boundary layer and 90-100kt jet core, could get some very powerful downdrafts - not that exact outlook categories hugely matter.
Saturday though having looked less impressive yesterday as now swung back to being more volatile, as was always a possibility.
General trend for the upper level pattern is for a slightly more amplified, stronger but still broad based trough - a notoriously dangerous setup atop a moist warm sector. Couple things to note in the jet pattern from the GIF above is the stronger flow on the backside of the trough, not any sort of official forecasting technique but a sort of eyeball method to gauge that the trough will be approaching peak strength/maturity on Saturday afternoon.
Also most importantly notice the coupled jet pattern which has become increasingly apparent in the last couple runs. That's the segment of stronger flow branching from C IL up into southern Ontario. The area in between which current models have to be around KY/TN have very strong divergence (decreasing wind gradient) and diffluence (spreading apart wind barbs) which together provide an extremely strong signal for a secondary low to develop in that region.
Moisture of course won't be an issue with Friday's system essentially acting as the new lead wave. Super tall and thick instability profiles, unusual for this time of year. All together current models have a setup strongly supportive of severe weather across Dixie alley on Saturday afternoon. 12z UKMET probably the highest end output with an insane low level jet and near 70f dps fairly widely.
Still, its Day 5 and plenty can and will change. So I'm uneager to jump massively into the hype, even if current output deserves it. What needs to be focused on are trends, and broad themes. This setup is in some ways quite 'fragile' in the sense it wouldn't take much to shift this into your normal severe weather event, as yesterday's set of model runs showed where the trough ejection is not quite as favorable so the low level wind response isn't as impressive. I do think moisture will be almost a given as it will be the second day of large scale moisture return, though we will start getting a good idea of the true extent tomorrow as a smaller wave passes through.
Main trends to be look for will be:
- The emergence of a more prominent shortwave. Often that's something that can become apparent in these longer wavelength troughs at shorter ranges, I recall this happening in the 12/10 outbreak. An embedded shortwave or speed max would strengthen the low level wind fields which pretty much improves the environment all round.
-The sub-tropical jet nosing too much to the north, which may limit thermodynamics especially with the low-level lapse rates
-Trough either de-amplifying or becoming too amplified both of which could reduce the severe threat
-Trough trending a little north which could expand the extent of the warm sector northwards
As we get into the D1-D3 range is obviously when the smaller scale details which could make or break the setup become apparent. Still think its a wait and see game because who knows the parameter space and synoptics will be the same by the time we get to Saturday, though for a local forecaster perspective increasing awareness early is obviously important.