I think it depends. I'm planning on taking the August MCAT and have my worries. However, this past application cycle, I ended up getting some my applications in pretty late and I still got interviews at a few schools. I ended up with some wait lists and currently a hold at suny downstate. The thing with the August MCAt is, is that if you do well on it, it'll cancel out anything resulting from applying late, because you still get looked at late, but you're application might need to be a bit better. Either way, if you plan to take it, plan to do well, otherwise it's not worth it and you should apply as early as possible.