Please do not take my statements as definitive on this issue, but with the execption of those programs with advertised "early consideration" dates, there is no advantage for the institution to tier applications by sumbission date. Particularly the problem in doing so is managing the data flow.
And, the real value in terms of dating would be "completion date" of the application, not submission date. A complete application (all required materials on hand with the institution) is what really matters.
Generally, the old adage "the early bird gets the worm" applies in this context. The earlier the application is complete, the more opportunity the applicant has to be in front of the admissions committee for consideration for an interview.
Eric H. Hobson, Ph.D.
Associate Dean
Belmont USOP