I saw that there's going to be a new GMAT test launched in 2012 - it's supposed to include a new "integrated reasoning" section that analyzes how you integrate multiple information sources into your thinking.

I decided to put off my applications for at least a year while I keep working (I got a promotion when I told them I was applying to school,) so my timeframe is pushed back a bit, maybe until even 2012.

In terms of having the best possible application, do you think it's better to take the GMAT now or next year, or put it off until the new one with the new section is launched? If I take it now, I'll have the luxury of pretty much knowing what's on the test. In 2012, who knows - the evaluative reasoning section might be incredibly easy and I might be able to ace it.

Pros and cons for both - but what do you guys think?

have heard the same...that thy r gonna change the format...though dnt knw much (even the coaching centre ppl dnt knw much whn i asked)..will keep u posted if i knw nything....n abt takin test...think its better to do it in 2011 than in 2012 thn we dnt knw wats in store for the test takers...n i dont think there will b many prep books n courses like we have nw...so i plan to take it in 2011....n also remeber tat ur gmat score has gt 5 yr validity...!!!

I can't really think of a "con" against taking it before the new test comes out, unless of course you're totally unprepared. But I wouldn't wait 2 more years just because...

My big question is what's better: GRE or GMAT for those schools now accepting GRE scores?

Frankly its better to wait because the new GMAT will offer three separate scores, the main score, the essay score and the score of this new section. In its first year the new section might be relatively easy so it will be good for you to be amongst the first to give it.

Cheers

Your Gmat scores are valid for a period of 5Years.
Then why wait and speculate!!!
If you are prepared, earlier the better.

Agree. I'll be curious to see if/how average scores fluctuate when the new tests come out.