ill weigh on this. for one thing i had a 2.97 gpa, and have a 730 gmat.
first three semesters of college i had a 2.5 GPA. Quite frankly, i had no idea what i was doing, and got involved iwth a lot of stuff. As an engineer major, i was really overwhelmed with calculus, chemistry, etc. I remember just thinking that i was as smart as people getting A's, but had never taken Calculus in high school, and really lacked the study know how and focus to get it done. Further, quite honestly, motivation. I didnt go into college thinking 'i got to get best gpa possible for grad school'. i went in thinking 'im gonna have fun and have fun learning'
I think GPA is very delicately looked at, where as gmat is a hard score. gpa i think they look at alot for trends, did your gpa get better? most of us are applying at around 26. you think a school will ding you cause for 6 months, when you were 18, you didnt put in alot of effort into school? what an absurd notion that is.
i think they will ding you on gpa if you are way below the average and/or there is no evidence that once you corrected yourself on focus (and skill on how to study) there was not an improvement seen in some sense with the GPA.
There are of course the outlier semesters, where there may be F's and D's, which so long as a very reasonable explanation exists, it will be accepted.