When to take the GMAT?

Hello everyone… Just need a few words of advice… I know GMAT scores are valid for 5 years and the best B-schools accepting GMAT scores demand min. 2-3 years work ex… I am in my final year of Engineering n am appearing for CAT '09… 1…

Hello everyone..

Just need a few words of advice.. I know GMAT scores are valid for 5 years and the best B-schools accepting GMAT scores demand min. 2-3 years work ex.. I am in my final year of Engineering n am appearing for CAT '09..

1) Should I take the GMAT now? Any advantage??

2) What is the loss in credibility of a GMAT score if I apply to Universities 3-4 years after taking the GMAT??

3) From all perspectives, what is better for a fresher? MBA from one of the premier bschools in India or taking the GMAT n going abroad?

4) When do applying sessions begin n by what month in 2009 should the GMAT be taken??

Thanks!

Sid