We did the East Verde one of the weekends in feb when Az was flooding and we decided it worth it to drive 13 hrs from CO to kayak for a few days. Someone (from mtn buzz, I think?) told us it was running, so we jumped on it- it was pretty low, but runnable- I don't think we ever figured out the exact flow. It was good that it was low for us though because it gorges up and gets steep at a couple points, and it would have been hard to stop and scout if the river was pumping. I remember there being two distinct gorges, bracketed by flatter sections with class IIIish stuff and lots of trees, sometimes having very channelized creeky stuff with pin potential, sometimes just boulder gardens.
In the first gorge there was several drops- 10' (looked a lot like low-water Tunnel), a 20' slide, another 10-15' that looked possibly runnable but we portaged it, numerous smaller drops between 5-10'.
The second gorge had some more smaller drops and a chute-like rapid (that I portaged but my buddy ran). Also a section where the river was completely filled with giant, GIANT, boulders and the whole river became one giant sieve- we portaged that whole section, too. That section might be runnable at a real flow, but when we were there it looked sketch.
The takeout is super difficult to find from the road. We ended up hauling our boats for a couple miles on a road that we thought was private property -it turned out to be public property, but you had to talk to a local rancher to get the key to open the gate- it was weird. Apparently if you continue down a couple more miles on class II there's a better takeout.
Overall it was an insanely cool trip- I would recommend planning for two days to do it. We brought our sleeping bags as an emergency measure but we didn't bring much food, so we had to share 3 potatoes and several packs of fruit snacks for our dinner/breakfast ("Ha, we can do 18 miles in one day!!"). I slept in my drypants and wore the skin off my ankles, and my buddy slept in his drysuit, inside our sleeping bags- because we decided to go kayaking in February in the desert for fun
At that level, I would say a couple of the drops are class V, but mostly class IV or IV+, with a couple portages. It is very remote though, and there's a lot of pin potential. At higher water, I could see more of the gorged-up drops becoming class V or V+.
I can send you some pics if you want... taken with a waterproof disposable camera