Hey bits360 your strange logic is only 20% correct. Your point that cut-offs after 1st iteration has fallen so drastically because over a period of 3-4 years, BITS people now know with reasonable guess that how many are going to finally join. Till that point you are ok. But yr logic that Hyd can be last option for many and so cut-offs will not fall drastically is not correct.
The first cutoff is just an indication. The list after 2nd iteration will clear all confusion. I am reasonably sure that cut-off for all branches in all campus will fall by at least 8-12 marks. Even for CS it will fall. There is no doubt about that. So relax. Write only when you are sure. My logic for fall in cut-off is based on very obvious factors like increase in IIT seats, AIEEE counselling on AIR rank for 50% seats in NITs and BITS Statistics itself which clearly shows that the paper was tough and only about 11000 people could score above 250 despite good increase in no. of appearing students (may be about 90000 - don' t say it is 1.17 lakh because that is those who have applied NOT appeared). So this year 11000 for 2000 seats as against last year's 12000 for 1400 seats. You can draw logical conclusion.
Don't try to give weird calcualation based on perceptions. Keep that for Engg. course. For the present, be rational, and draw conclusions from very obvious statistics. Best of luck to all.