No, they took advantage of the late October release to fix their year, yet have enough re-orders to carry into the next year.
I think they need a slew of changes, one of them is changing the FY. If they follow the GTAIII and VC pattern, there will be another GTA game released in the Fall of 2008. I think Sports would become much more meaningful part of revenues, annualized 7-10 million units would smooth things out. Midnight Club can be released more frequently. Bully, Red Dead, Manhunt, Max Payne, or other Rockstar games can be released every other year. Firaxis can release a Civ game every other year. Irrational can release one game a year, next year it will be X-COM. Then a sequel to Bioshock in 2009.
The main benefit to changing the FY schedule is to allow better comps against the peers in the sector. It would also alleviate any concerns about earnings manipulation for the holiday season.
It would not make any difference to smoothing earnings out. If sports is selling an average of 7-10M units each year, it doesn't matter what the FY schedule is, that's still an average of 7-10M units per year. A franchise that ships every other year will still be separated by a full FY, regardless of what the schedule is. Your implication that earnings would go up due to a change in schedule is frankly bizarre.