By the numbers ONLY for Fall 05 were....
AA/AS = 26% chance of admission
BA/BS = 41% chance of admission
MA/MS = 64% chance of admission
No degree = 32% chance of admission
Source:
http://www.pharmcas.org/docs/Degrees04-05.pdf
I rounded and only included AA/AS, BA/BA, and MA/MS for degrees, so my numbers are rough. You get the idea though, and there seems to be NO benefit to getting an AA/AS vs. just completing the prerequisites.
I'm thinking that Fall 06 numbers (out next month) will show a decrease in AA/AS and No Degree admits.
Given that new schools are tightening restrictions progressively as the years go on (see discussion on SDN) and the number of applicants increases steadily...I think all pre-pharms that haven't yet started college should seriously be on track to get a BS/BA rather than aim to finish prerequisites only. By the time y'all apply...no degree/AS & AA candidates will be diminished even further.
This doesn't mean you shouldn't apply...apply anyway, the worst that can happen is you don't get in, at least you can go back to school in the fall and finish your BS/BA and try again later.