I have been asked by many prospective applicants as to which round is the best to apply – R1 or R2. My advice is very simple. You should apply when you are ready. If your GMAT is in place and so are the essays and other details, apply right away. If you think, there is an important assignment at work which is nearing completion or you are due for a promotion,, which will change your role and responsibilities, you may want to apply in the Round 2. The bottom line is that one should apply with the best application in place.
Ultimately, R1 or R2 for us makes no difference as we have historically received more or less equal number of applications and the seats are also distributed accordingly. So, you are neither at an advantage nor at an disadvantage.