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If time is on your side, and by that I mean that your work experience is not significantly beyond the sweet-spot of your target schools (check their class profiles), then I would strongly suggest to get your new citizenship first and then apply. Period.
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bojunk
I'm an male engineer living in Europe, originally from an Asian country, and I'm targeting the Top 15 programs this year.
I'm currently in the naturalization process, so I will get my European citizenship at February next year at the latest.

If I go for R1, I most probably have to use my orignal citizenship, which is an overrepresented pool.
if I go for R2/R3, I might be able to use my new citizenship, which is a much smaller pool.

I heard rumors like "citizenship plays a big role in the quota system", but I also heard words like "the earlier, the easier and the more scholarship".

Therefore I'm genuienly curious to hear what everyone thinks of my dilemma: With my application readiness (not an extraordinary one though) equal in all rounds, which round should I go for?

Hello bojunk,

We would not recommend that you apply in Round 3 even if is with your new citizenship. The seats are very limited and the wait might not be worth it. If you have time in hand and can wait for Round 1 for the next intake then that would make more sense. Else, you should go ahead with applying in Round 1 with your original citizenship.

All the best!