Thanks to Geethu, dj, stoofli, Bhai and Paul for your responses.
There are a number of things going on in my mind.
First, there is hardly anytime left for the application deadlines. (priority for international applicants)
Moreover, I still have to finish off TOEFL.
I want to give the best application essays and thus want to give sufficient time to them.
Second, if I cannot give a good application this year then I think it is wise to give another attempt for GMAT and apply for 2005 by early application rounds of 2004.
I am still in dilemma what to do.
As far as my experiences of GMAT go, here they are -
AWA - ETS has sent mails to many people who have registered for GMAT to give inouts to their AWA Pretesting prog. If you have received the mail, I suggest that you participate in the prog.. Others find a partner for AWA and then exchange and evaluate each others response. This helps a lot. Like everyone suggests prepare a framework and stick to it. Practice it so many times that you don't have to think about it in the real exam.
Quanta - I was comfortable with quanta. so probably I am not the best person to give you advice. But, solving Kaplan
will help to deal with tough questions that you can expect if you are looking for a high score. I was totally puzzled about how I was doing in the quant. section until I got a probability question in the first 10 questions. Fortunately, it was an easy one. I got about 2-3 more combination problems. I think, the only mistakes I made was in DS. So, I would suggest focusing on DS rather than PS. Moreover, if you solve DS you can just continue on to actually solve the problem which gives you practice of PS. Timing was not a problem for me. I finished dot on time and devoted about 2 mins per question.
Verbal - This section was puzzling for me on both my attempts. Not because I got tuff questions but because both times I felt I did pretty well!! Again, timing was not an issue for me as I made sure not to spend more time on any particular question. (But, now I think may be this was my mistake. Some questions initially do deserve more time then others. Would like your comments on this).
CR questions were quite tricky. Although, prep. tests and other sites have good questions, but the real test CR are a bit different. In most test prep. CR you can easily eliminate by only considering scope and main point of the argument. But, in the real test you will need to weigh two very similar choices for the best one. I found this very tough given the time pressure. Its really hard to say which material is close to real test, but the studa.com CRs' are good for discussions and will help to understand other view points on the same argument. I think, I must have screwed up in the RC questions.
I must admit that this forum has helped me a lot in the verbal preparation. Discussing your views here helps a lot.
Keep sending in your comments.