Hi there, thanks for reaching out. My first response is a self-serving one but true nonetheless - the most critical thing you can do now is nail your essays. Proper goals (appropriateness of your pursuits and the MBA path), showing transferable skills for the ST goal, showing a moment of passion/inspiration for the LT goal, showcasing key b-school traits and skills, and - most importantly - hitting the DNA of the programs. Your goal - and everyone's goal - is to move from the huge stack of "deserving" candidates to the short stack of "wow, this guy is perfect for our program" candidates. a 20-40 point swing on your GMAT (in either direction, by the way) wouldn't really impact that migration. You can only do it by penning a set of essays that makes the reader go "this applicant is one of us." So yeah, self serving because that's what we do, but the reason we do it is because that's the reality.
Now, all of that doesn't really change one key fact: an increase in your GMAT score can still help you ... it's just probably more likely to be in the financial aid stage. Most schools - although they don't disclose this - run their scholarship and fellowship offers on GMAT score and so the higher the score, the more likely you will receive a healthy award at a top program. And, of course, it never hurts to have the highest score possible, especially at the top programs.
As for the splits, we've only truly seen that matter at Haas and Sloan - two schools that are a bit more paternalist about academic preparedness. Usually it is offset by strong finance chops (either academically or professionally), but those are the two programs were it seems to be a concern. I've personally had clients in the 50s on their quant split, from functions ranging from marketing to finance to non-profit, and all were able to get into top schools - even "quant heavy" programs. So to me, the split thing is one of those red herrings that gets everyone all hot and bothered on forums, but rarely is a game changer.
So, to sum it up:
- Splits should be okay at most schools
- Score is more than good enough to step up to the plate with
- Getting into an HSW is going to come down to the narrative now, especially program DNA
- If you honestly don't mind taking it again and think you can tack on another 20 points, go for it
- Especially for $$$ considerations
- But you don't *have to* in order to compete
Hope that helps.