I don't know about our chances.
As much as I have read about the determental aspects of applying late to schools, I think its worse then I could have ever invisioned. I got waitlisted by U. Miami and my LSAT is about 5 points higher then their 75th percentile. I'm already in at the school I want to go to and don't anticipate getting into Loyola or Pepperdine. If you apply as late as we have (which by the way was no fault of my own, other then the fact i decided to persue law school in october) you have to get probably 10 points higher then the 74th percentile of the the school and about a .4 higher GPA then the 75th percentile of accepted range.
Sucks but thats life.
GPA=3.39 NYU CAS (PoliSci/Philosophy Majors)
I don't know, I don't think its time to throw in the towel just yet. I too applied late because I only made my final decision at Thanksgiving ('04). However, I have gotten in to ASU and USD which are very comparitively ranked to Loyola. Further more Pepperdine's deadline is a month later than USD and Loyola's so our lateness there should definitely not be that extreme. I read in Montauk's book that for all the talk of early applications, most schools still recieve 25-35% of their apps. in the last week before the deadline. Furthermore, I think, particularly at these anklebiter schools (almost tier 1), I think the earliest apps probably come mostly from people who are borderline anyway, thats why they are motivated so early. I don't deny that early helps, but I think its exagerrated by the schools so that they can space out the process. I just think 10 pts above the 75th is extreme, as is evidenced by me getting into other places. It just wouldn't make sense, judging by the current ratio of acceptances to pendings on LSN, that schools would reject pretty strong candidates just because the applied at the tail end of the process.
This is what waiting lists and holds are for. Schools put shaky candidates on them until they are sure they've milked the entire applicant pool, then they start accepting others.
BTW, you might want to check out Chiashu.com. There is a LSAT/GPA calculator that gives you a rough estimate of your chances at each school. According to that, we have 70-85% chance for Pepperdine. I can't imagine they would flat out reject us just for being a little late.