My philosophy on the whole exit poles/reporting of votes is that it should all be done in private and released to the public the next day. People shouldn't be able to be influenced by the exit poles or the outcomes of the elections in other states...I've spent 4 years with my president, I can wait a day to find out if I'll spend 4 more.
Well, I don't see any reason not to release them that night after all the polls close, The latest would be from Hawaii which is 5 hours later than East Coast. What's time would that be? Midnight? 1AM? Heck, I wouldn't mind staying up 1 night every 4 years for the results of the election for president.