What is your goal? To get a direct commission or go the O9S enlistment option? For the O9S you only need 90 units to comm. so while everyone would agree that getting your Undergrad degree, it would not be a requirement.
I am not a soldier just an O9S wannabe- so take my comments with a couple grains of salt.
[QUOTE]I think it would probably be better to just enlist now, possibly under the college first program, and look into becoming an officer after I graduate. Most of the responses on this forum seem to encourage applicants to apply for OCS as soon as possible.[/QUOTE]
^ That is what I would do, personally.^
This will give you time to increase your GPA and get your degree**
I do not know much about the different waivers but I would assume the physical requirements would be similar for O vs E.