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ELC status is based on a snapshot picture of time, based on the end of the junior year. If you've already received the ELC qualifying letter, then you are golden. The UCs are WAY too busy with other issues to go back an recalibrate the ELC lists. They even allow candidates to self-report grades and are mainly interested in the final transcript if you have been accepted and will be attending.
Such a large drop out rate can, of course, impact calculations for val/sal quite a bit, since those do run to the end of senior year. Other than some "bragging rights," those aren't particularly meaningful in the long run.
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