Randomguy is bluntly correct. I don't think we should panic ever at the same time. While many including myself are preparing to take the exam before the new format comes out, it is a good idea to take the exam only if you're prepared. I feel that the negative consequences of "failing" a rushed exam will take you more off track then if you were to devise another strategy starting now.
The GMAT not only measures our ability to prepare for an assignment, it also tests our business savviness in adapting to change and pressure. If I were you, I would start thinking about new plans with the IR component. You wouldn't be "starting all over" as all of the quant and verbal concepts will still be your foundation to a good score.
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Don't let a low GPA destroy your dreams of a business education.