Step wise progression of a desi work-ex MBA guy :-
1) Pre-MBA (Between the time u get an admit and the course starts) - High Hopes
2) During MBA I term - Going under
3) MBA II term - Coming back to life
4) Summers - Be quick or be dead
5) Term IV - Wasted years
6) Term V - F*ck the system
7) Term VI "Darn !! I have to get back to IT" - Sad but true
8>Day of graduation - Sab bakwaas hai
Anyone with > 3 yrs of work ex better think abt it hard when it comes to desi MBA's.
Coming to ur Q, full time definitely makes sense but look for a 1 yr course if u have 4 yrs workex and yeah 4 yrs aint late....though u'll be the uncle at any desi B-skool other than ISB.