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I just took the GMAT and got a 710 (94%) but only a 42 (67%) in quant and a 45 (98%) in verbal. I have a strong GPA (3.73) from a good undergrad program and 4 years of consulting experience. I'm targeting Chicago, Wharton, and NYU. My question is: will the quant/unbalanced nature of my score kill me? Should I consider taking the test again?
The unbalanced nature of your score per se is not an issue. The real issue is that the quant scores is on the low side for the elite/ultra elite schools you mention. I would consider retaking the test.