You can draw conclusions from GWO before its through gathering data. It will show you which "parameter" is doing better as well as which combo is doing better.
Use GWO multivariate at first to get a good idea of where to start with an LP, then set up that initial LP in p202 so that you can see if conversion rate is good, test against a second LP that has the multivariate test running. Set that page up in p202.
Now you have 2 pages in p202 so that you can compare conversion rates and page CTR. Use GWO on the second page so that you can always be testing something. If your GWO testing page is not beating your earlier page, change it up. If it is beating your other page, pick the winner, put it as static page in p202 and test against another GWO multivariate page.
I hope that makes sense. I didn't read over it before posting.