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In the process of writing my PS, I've gotten feedback from 20+ people (friends, people from this website, instructors, etc). Between the first and second drafts, the advice from different people were similar and about general topic, structure, organization, etc.

By my third draft, the feedback I have been receiving seems to be more personal choices which individuals prefer in PS's. Obviously if you send someone a personal statement they've never seen before they will always give some sort of negative criticism since people review PS looking for flaws to inform you about.

My question is, how/when do you know when you have finally reached a complete final draft?

When you're satisfied with it. There is a point where you need to tell yourself "this is it, this is the best I can do" and you let it go.

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