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Hi Rajmago,
1) If you are committed to attending Columbia (and willing to put up an early deposit if accepted), and you believe you will have your best application ready by the Early Decision deadline, then ED may be a good route for you. A good portion of the ED applications will arrive within a day or two of that 10/6 deadline, so I would not worry about being "too late" as long as you make that deadline.
2) While Columbia is vague about how ED impacts your admissions chances, applying in that round signals that you are committed to attending if accepted, which can only help your chances in my opinion.
3) As a general rule you want to put your best foot forward. So an "A" quality application in Round 2 is better than a "B" quality application in Round 1. Of course, a top-notch application in Round 1 is the best mix, since that means you will be reviewed when the class still has the most available open slots. Also, keep in mind if you apply Columbia ED and Kellogg Round 1, and get accepted to Columbia first, you will be expected to withdraw your Kellogg application.
Best of luck,
Jessica Shklar, Senior Consultant mbaMission
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