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The last day to register for the 2005 GMAT was Dec 17...I signed up for the 30th and have until tomorrow to decide to cancel without penalty. I am struggling with the decision of whether or not to retake the test. My top choice schools are Harvard and MIT. Here are the numbers:
Quant 47 (81%)
Verbal 38 (85%)
Overall 690 (91%)
Undergrad GPA: 3.73 (Aerospace Engineering from decent state school)
Grad GPA:4.0 (Materials Science from TOP school)
~10 years professional experience
I think Hjort will be able to best answer this question.
Personally, I don't think there is any harm in retaking the test before round 2 apps are due. Your score seems to meet the average for the top schools and your work experience is greater than that of the average applicant.
Unfortunately, I don't really have any reason to think I would do any better...that score is pretty much what I was scoring on all my practice exams. I'm down to the wire on application deadlines, and I think the time might be better spent finishing up essays and application details. My feeling is that I would be spending $250 on a chance to only increase my socre only marginally...