Thank you so much for your replies!!!!!
As Praetorian recommended I had e-mailed GMAC, and here is what they wrote…
Your very interesting questions - ones we considered very carefully
>throughout our request for proposal development process and even more
>carefully as we evaluated the GMAT test development proposals of ETS,
>ACT and others.
>
>First, there will be no change in GMAT content. GMAC will continue to
>provide the same reliable, valid and comparable GMAT with ACT as it has
>with ETS. We have no plans to change GMAT content during the transition
>period. The GMAT test is a quality exam of which we are very proud.
>
>Second, I'm sure you will agree that a quality test administration
>program requires high standards of performance and strict compliance
>therewith. Hence by definition quality must be replicable. In selecting
>ACT as our test development vendor, we sought high quality, expertise
>and professionalism at least comparable to what we receive with ETS.
>
>Finally, those "thousands and thousands" of GMAT questions belong to
>GMAC, not ETS.
>
>I hope these comments allay some of the concerns you expressed in your
>email.
>Customer Service Representative
>Graduate Management Admission Council(r)
>