Having just been at a presentation given by Dr. Baptista, assitant dean at the MSU CVM, I know that their admissions are "rolling" this year. Every 2 weeks, the committee meets and reviews the applications sent within the past 2 weeks. They do use the SIS formula to weed out applicants, and students with an SIS lower than 790 do not receive a supplemental application. After the supplemental is due (you get 8 days to complete it), the committee meets again and sorts through that group. Dr. Baptista said the plan was to inform students much sooner of their status so they could have a "plan B" and wouldn't have that freak out moment of "WHAT AM I GOING TO DO!?" in late March. She said that a percentage of students are accepted from each group of supplementals, but she did not say how much. She also said the system could get a little backed up after this week since over 80% of their applicants waited to submit until the last week last year. Basically, she made it seem that there was an advantage to turning in your VMCAS early due to the percentages of acceptances, but she was VERY unclear on numbers. She did also say that if a student is really exceptional, they will be accepted regardless of the percentages for that cycle.
Interesting system. It's new so we'll see how it goes.