Maybe its over - but anyone who has been through negotiations of this matter knows that there's a lot of brinksmanship that goes on.
The deadline was extended to 10pm earlier today. At 6:30pm they "break off" talks. Its now 7pm.
Do you really think everyone's completely thrown in the towel and wouldn't consider talking again before the 10pm deadline (which itself was set two hours prior to the 12:01am start of free agency to even give them some extra wiggle room there to extend negotiations for another hour or two)?
Or do you think this is a tactic by a party to force movement on a particular issue before the 10pm deadline?
Frankly, when you "end" talks BEFORE a deadline is reached, the one and only reason you do so is to force movement on an issue - this is right out of "Negotiations for Idiots" - which pretty much sums up what we're observing anyway.
The way to tell if talks are truly over is if teams start announcing their major cuts immediately (which, by the way, would be a novel tactic for the owners to try to send a message of their own!)