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Although the GMAT score are valid for 5 years, do Bschools give more preference to the applicants whose score are nearest to the applying date. I have given my GMAT in 2011 and will be applying for fall 2014, will time difference stand against my odds of getting admitted into a decent Bschool.
Check out this awesome article about Anderson on Poets Quants, http://poetsandquants.com/2015/01/02/uclas-anderson-school-morphs-into-a-friendly-tech-hub/ . Anderson is a great place! Sorry for the lack of updates recently. I...