The advantage of starting late, is that you don't have to wait for the next months instructions. By the time you are up to Augusts instructions, probably the rest of the BOM will already be published. Sure you miss the surprise factor, but that is the only part you miss out on.
Make sure you check out the BOM Show and Tell for ideas. If you go with the kit, you may want to personalise it a little anyway. And if you want to choose your own colours go through Alex's lessons about focus fabrics etc. The Jinny Beyer Show - Episode 313 is also great to help with fabric selection.
Karen