I have been admitted to IE Madrid's IMBA and I will start in September 2015!
I've chosen IE for many reasons: entrepreneurship, 1 year long, top ranked, it's in Madrid, will learn spanish and high class diversity.
I've took the ieGAT and also spoke to Italy's representative and he gave me some very useful suggestions.
The application went flawlessly, I've been scheduled the interview 5 days later, did it and received admission 10 days after the interview.
The interview was done via Skype and lasted about 50 minutes; it was tough but not stressful.
I really suggest you to get in touch with your nearest IE representative and meet at the next available Q&A event.
If you decide to take the ieGAT instead of the GMAT, please bear in mind that you need to send your application no further than 45 days after receiving the test results.