If you are going to apply to business school with your current GPA, this is the year to do it as I expect applications to be down slightly.
Your GPA makes you a non-competitive applicant at most top-10/15 programs so I would recommend putting your energy where your chances of getting admitted are better. Schools where I have seen candidates with low GPAs/high GMAT scores admitted in the past few years include; Ross, Fuqua, Marshall, Owen (Vanderbilt), Tepper (CMU), and Kelly (Indiana).
Do not feel as though it is a lost cause - however, you have to be strategic on where you apply and how you present yourself to admissions. Your GPA has more than used up any margin of error in your application so everything you submit has to be extremely strong.
Senior Admissions ConsultantManhattan Review
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