This applies to most schools, R3 is always a LOT tougher to get in compared to R2. Perhaps you can finish your application and get some sort of dispensation to submit your gmat a day late ? I dont think that it would be a big issue if you submit your gmat a day late.
However the stress of the application could distract you from your GMAT exam performance. I think you are in a bit of a bind because of poor timing of the GMAT
I'm wondering if my chances at admission will be signicantly reduced if I apply R3 instead of R2. I planned on taking the GMAT on Jan. 5, 2008...however their deadline for R2 is Jan. 4, 2008. Maybe I should just move my test date back a bit? Although it would really help me if I could apply R3 without being seriously hurt.