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Well, I just got back from the test. I couldn't believe the score when it popped up on screen. I ACTUALLY did worse.
I thought I studied harder this time around. Practicing the GMAT prep questions. Doing all the questions in the OG, but alas, to no avail.
I think I've peaked. I was going to apply for Round 2 at LBS.
The rest of my application package is pretty strong.
I do not know whether I should still apply for Round 2 with the 610 and hope that the rest of application is strong enough or try and take the GMAT one more time and if my score is better, apply in Round 3.
There are alot of dependencies that will weigh on your decision.
What were the weak parts of your test? Verbal or Quant?
If you've already completed your essays and other parts of your application and are committed to applying for the upcoming semester (I'm assuming Fall '07 at LBS), then I would lean towards sticking with the 610. You simply don't have much time before R3 deadline (~a month or so), and increasing your score substantially will take a solid effort and time commitment.
If your schedule is flexible, you haven't done alot of the essay work, and you are very concerned with getting a high GMAT score, you might consider postponing your app entirely, committing to a study plan for the GMAT, and applying for the Spring '08 semester.
If you listen to the folks on these boards, there are tons of extremely bright people here who spend months of intense studying to make it to the 650+ or 700+ level. Trying to reach that level in a hurry because of an impending deadline is just that much tougher.