FORM FLR(O)-Discretionary Leave to Remain

[rioses]

I tried renewing my student's visa last year but was refused because according to the UKBA, the bank details of one of my 3 boys was stated incorrectly and was returned as invalid.By the time my documents were returned,my visa had expired and I no longer had Established Presence,therefore I was to declare £23,000 which I did not have.
I have been in the UK for eight years and due to some religious upset in the family back home I applied for my wife and kids to join me 3yrs ago.My last kid was born here 18mths ago.
I applied for discretionary Leave in June 2012,biometrics done in december and no decision yet.
How do you guys see my chances,and will the old rules apply to my application if i'm successful.

Thanks