Reliable "hearsay" info. See if you can treat it as reference:
A lot of secondary school students changed schools and go study aboard in these two years since they dropped IB. However many entered good schools locally and internationally:
1) some in top 50 UK schools which I am not sure of the names (this point not very sure)
2) Locally: St Paul Girl in Happy Valley and DGS, St Joseph in Wanchai
3) International schools: South Island and Shatin Junior.
Even average students can change to Victoria (IB) and ISF.
It is said that some can score TOEFL of over 550 even in S3.
Student of S3 will sit for IGCE in April 09. Then it can have more concrete info for reference.