Personal experience has shown me that about three night’s sleep softens the sharp edges of the rejection to manageable tolerances. Time does heal. But remember, even with the best credentials in the world, entry into these types of schools is still kind of a crap shoot. The only way this rejection could hurt you is if it makes you doubt yourself and you stop trying.
Despite it’s advantages, I’ve always felt that the biggest downside of EA is the demoralization factor should you not get in. At least with RDs you hopefully get some acceptances along with the rejections or waitlistings in the same short span of time to mitigate the effects of the bad news.