I'm a class of 2007 but I'm graduating in June 2009. I'm currently doing my mandatory military service and when I return to school, I'd be a junior. I'm preparing for GMAT now (taking it in May) although I'll be applying in 2011 for MBA in 2012.
Since GMAT is valid for 5 yrs, I could take it now.
Just want to be done with it now, so that I can concentrate on my work, app essays, and letters when I apply.
Btw, 640 in GMATPrep with no preparation is a good score!