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I am planning to take GMAT in april 2011 abd i will start applying in 2012. The new GMAT format will be applicable from June 2012. Would, taking the exam in old format, harm my applications. Please suggest
No, it should not. If there a significant change in mean scores from year to year, they look to the percentile to see where you lie. There is precedent for this -- such as when the format of the SAT changed a few years back.
Without knowing anything about this GMAT change, I would rather take the old version. The old version is going to be easier to prepare for. You will know exactly what to expect on the test, there are prep tests, and the prep companies have solid prep materials already made for the existing GMAT format. For these reasons, if you plan on doing significant prep, your advantage will be maximized by taking the old version. If you are just a naturally awesome test taker and you don't plan on doing significant prep, go ahead and take the new version when it comes out.