Since the scores are valid for 5 years, they will be as such considered equally for admissions as well. You do not need to worry about the new format taking some kind of preference over the older when it sun-sets in June 2012.

First of all, congratulations on graduating AND having a job lined up. Tough to do these days.

And let me sat that you have a great plan! You absolutely should take the GMAT now while you have time to study for it, and you are in that sort of academic test taking mind set.

As well, there is certainly a chance that GMAC will find a way to raise their prices again in a few years.

As "thunderdan" has mentioned above, no need to be concerned about the new Integrated Reasoning section. The GMAT is not changing the core 200 - 800 score and it is not messing with the Quant and Verbal sections so schools will be able to compare your scores to other applicants who took the test later than you.

Study hard and score well!

Thank you to the both of you for getting back to me. In light of your feedback I have decided to stick my plan and study for the GMAT this semester.

I know this may not be the ideal sub-forum but what are your thoughts on the following study prep tools for 7 weeks of studying?

-Grockit
-OG
-An additional book for the verbal (I'm an engineer and I feel the verbal section will be my weakness)

I am open to all suggestions. I will be doing a self-study plan and not a course.

Thanks.