I cannot say what to expect, since I never auditioned for them.
What I can say is that everyone I ever met who went there has said the exact same thing: It all depends upon the group they put you in once you are there. Apparently there tends to be one or two hand picked groups of students that get all the good teachers and attention and those are the groups you want to be in. The rest are there to help fund the school. Hearing that they are accepting less students probably means that this practice is no longer, and that all students will receive a quality education. AMDA isn't for everyone, and neither is a University. Just like anywhere else, you can only get out what you put into it. There are many consistently working actors who got their training at AMDA, and it is not looked down upon by the industry.
Again, I did not go there. I'm only re-iterating what I have learned through those who did. Your experience might be different.
Knock 'em dead, and let us know how it goes.
"If this is going to be a Christian nation that doesn't help the poor, either we have to pretend that Jesus was just as selfish as we are, or we've got to acknowledge that He commanded us to love the poor and serve the needy without condition and then admit that we just don't want to do it." -Stephen Colbert
