What if I send the old forms by 2nd week of August and the processing takes time and it may lasts till after march 2012 will they still process it still? Because I'm scared that if I pass the old forms which by the way I'm almost done and then I submit it on August and it will take time to process and when the time they process it which maybe after march 2012 they might ask me to redo the whole thing

not all forms were changed....just 3 if i remember correctly, one being the sponsor form....if the sponsor was approved they will not ask u for that....so at the end it's maybe 1-2 forms different; it's not really a big deal even if they ask u
also, even if u sent the new forms they might still ask u to update the information during the process, if their processing time is slow;
old or new forms the questions r the same, it's better to have them typed instead of hand-written and also have a copy of everything u send (so u'll find everything easy in case they ask for updates or to fill it again)