Big money is made in SAT preparation and it'll be awhile before the leading schools abandon it. If colleges are looking for a yardstick, nationwide testing should follow New York's Regents example that tests each subject, rather than test scores that can be bought by wealty parents who can invest in the preparation of solving useless SAT logic puzzles.
 

Although decently ranked colleges like Bates and F&M may be pushing the SAT aside, liberal arts colleges are increasingly under the fire to justify their Ivy-like sticker prices without a similar return on investment. (Little to no brand name recognition = fewer INITIAL job opportunities). Leaving the SAT out of the admission equation, may just be enough incentive for students to help keep the colleges' applicant pool up -- something Harvard will never need to worry about.
 

While it has a lot of imperfections, the SAT seems pretty good to me at picking out the smart kids ...