trader1, have you looked at IMD? I visited the campus a few weeks ago and it is great school. I'm also looking at St. Gallen but am concerned about the "newness" of the program. Is that something you've thought about?
I looked at IMD, and I would not fit in there. Plus, it's more geared towards industry rather than finance/banking/consulting. Great school nonetheless, but not for everyone.
St. Gallen's MBA is new, but the institution has been around for over 100 years. In German-speaking countries, carrying the name St. Gallen on your CV is the equivalent of "Oxbridge" in the UK or Harvard/Yale/Stanford/Princeton in the US. Bottom line, the regional brand is quite unparalleled. And, this plays great into my future career location - Switzerland or Germany. I would compare St. Gallen's MBA to the likes of Oxford and Cambridge, since their programs are relying on the name-brand of the university proper. Comparatively, St. Gallen has more of a reputation for business and finance in its region than do Oxford and Cambridge in theirs.
By 2010, St. Gallen should have a ranking in FT (5 years after inception).