Sorry this is a bit long, but I wanted to provide as much as possible without boring you to death!
Profile
28 y/o female (29 at matriculation)

Undergrad:
University of Delaware, Finance major
GPA 3.04 : Major GPA (in Business classes) 3.3
My GPA was an abysmal 2.5 freshman year, due to some family issues, I really struggled with being away from home. I consistently raised my grades throughout the 4 years and made Deans List a number of times.
Was the Treasurer of the Panhellenic council during college.

GMAT – 650 44M 35V 84th% overall

I'm still working on my long term goals. Of importance to me in school selection include a program strong in finance, general management and international exposure is also a bonus. I love working in the place where finance and technology converge- it is fascinating and dynamic. I could see myself in an account manager position at a technology company or corporate finance division of a company, or financial software company. ( I know this area needs work for apps)

Work Experience:
2.5 years in an analyst position at a large financial services company that specializes in fixed income custody.
1.5 years at a financial services/Rating Agency institution in a highly quantitative fixed income modeling role. I was laid off from this position after the company sold off the guts of our division. The lay-off was group-wide.
Currently 1+ yrs at a software company that does risk management in the banking industry, in a product manager role, primarily focusing on providing risk solutions and market direction for our product.
Recently promoted to a Relationship Manager position. I work with high profile/high risk clients that require a contact person at our company to ensure that their issues/questions/problems get prioritized and excuted in a timely manner. My responsibilities include working on clients’ specific issues personally and also delegating certain projects to various business areas for completion. I follow the project through until the client is deemed satisfied. Additionally, I provide consulting to clients on-site which includes implementing our solution software, providing new solutions to evolving areas of their business, fixing existing issues. This position has allowed me to take the quantitative skills I have gained in my career, software knowledge learned while at this company and improve on the “softer skillsâ€

Thank you for the candid feedback. You're right, it wasnt what I wanted to hear but I know my GMAT is a bit of a weakness. At this point I dont want to sacrifice the quality of my essays and apps by studying again for the GMAT at the same time.

Am I an unlikely candidate at all the schools, even UNC and Georgetown?

I know the answer is that I would be a stronger candidate with even 30 more points. I will definitely consider it and maybe apply to fewer schools to lessen the workload on essays and apps

I liked one things that you have written in your book, usage of 'optional' essay.

If somebody's GMAT is below the average or middle 80% GMAT score of a target B school, shouldn't writing this 'optional' essay increase the chances? Of course, if candidate has good academics & has taken GMAT 2 to 3 times...