Please Help. Need to make a Decision.

Hi ,

I took my GMAT last Saturday. Got a disappointing 660. I had been scoring around 700 avg on my practice GMATs (GMATPrep and Manhattan GMAT) , so scoring 660 was heart breaking.

More than a Profile Evaluation my question centers more on how I should proceed.

First a brief about myself -
I am 29 M Indian (married) working in IT industry for a total of 6.5 years including 1 year in US . I scored 65% in my B.tech (Electronics) and was involved in some extra curricular like dramatics, arranging and participating in education camps for under privileged. My work experience is in IT industry, working as a software developer(Currently, hold the position of a Lead Architect).As compared to peers, I believe I have shown considerably better performance. I have been promoted every second year. More often than not, I have performed leaderships roles, starting from single-handedly managing the development tasks of a project during the recession of 2008 to accepting the challenge to take over a new position at client site to create business for my company and then going on to excel in the role.

Now, I do not believe that the score of 660 truly reflects me so I would like to reappear, but with Round 2 deadlines just around the corner I don't have enough time to reappear.

I was targeting schools like NUS and HKUST as i need to keep the cost of my MBA also in consideration.

I know there is an option to wait, reappear next year and then apply for 2014 batch but I feel a little uncomfortable waiting that long.

Coming to my question, Should I apply to my target schools and take a chance? I have scored just about the average score for these colleges. Or should I swallow the pill and wait for a year. If I apply now and not go through will it affect my chances next year?

Finally, are there any other colleges where I can apply with this score?

Heartfelt Thanks in advance!!