Good question, Nicole - my (pretty educated) hunch is that the business schools will assess you based on the test that you took and your percentile within it, and won't give preference to "new" versus "old".
Admissions precedent dictates a few things:
1) B-schools want great applicants however they find them, and aren't much for arbitrary "punishments" for things like retaking the GMAT, reapplying to school, etc. that nevertheless worry applicants.
2) Schools are much more inclined to look for reasons to accept you than for reasons to deny you.
3) B-schools are pretty happy with the current iteration of the GMAT and believe it to be a great predictor of who will succeed in school and beyond (that's why these "major changes" that GMAC announced last year have turned out to not really affect the current test, just with the addition of one new section).
Because of all that, your 2011 score is going to be just as valid and valued as someone's 2013 score.
While I'm on this thread, I should point out that our whole office is pretty excited about these changes and the new challenge. For anyone interested in our take, I'd encourage you to visit
https://blog.veritasprep.com/2010/06/new ... -take.html.
Brian Galvin
GMAT Instructor
Chief Academic Officer
Veritas Prep
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