I also took the GMAT four times
590 (48Q, 24V)
690 (47Q, 37V)
660 (45Q, 36V)
I have already been accepted to a trans-elite school (in and out of the top 20), and I have been waitlisted at two top 15 schools. I took the GMAT the 4th time to try and bump my score up for the waitlist, however, I failed to do so. My job recently offered me a big promotion to stay, which I think I might take and forego b-school for one more year. With that being said, do you think I can take the GMAT again in hopes of breaking the 700 barrier in order to get into those schools that waitlisted me? They all give the same line, "You can take the test 10 times and we will take your highest score." My plan is to take practice tests until I am consistently scoring above 700, at which point I will take the real thing. If I never break 700 consistently in practice exams, then I will never take the real thing.
I know some schools look at all scores if you've taken it more than twice (i.e. Anderson), but if they say they take your highest score, I believe them. It supposedly predicts my success in b-school, and that is the score that they average into the classs profile.