Profile evaluation/thoughts - Thanks

Well, before you apply to any b-school, you'd really need to come up with a post-MBA goal as that's pretty essential in all b-school application/interview.

My opinion on that GMAT score is as follows:
Adcoms love to see high GMAT scores, that's a no-brainer. In fact, as much as b-schools don't want to admit it, Kellogg (Northwestern University) does provide a breakdown for GMAT scores for 700-730, and 740+ and we can clearly determine that the highest percentage of people who gets in using this brekadown is the 740+. Having said that, your score of 700 is already at a comfortable level for all bschools now (again, no doubt about it). If you decide to take it again and score lower than 700, adcoms are going to be turning a wide-eye, thinking to themselves, why in the world would this applicant retake a 700 GMAT and only to end up with an even lower score? Of course, there are ways around this from time to time, but let's assume that adcoms saw both scores. If you score lower than 700, the obvious question from adcom would be - does this applicant really know how to manage his/her own time? Apparently he/she doesn't because rather than focusing on the application, the applicant decided to retake the test, but got an even lower score. This is not a deal breaker, but why give adcom the opportunity to think that way?

If you score higher than 700 but lower than 740, I think the stigma of time management is lessened, perhaps completely abolished in adcom's eyes. However, if you ask anyone to think about the difference between a 700 and a 720, there really isn't any. There's always some luck involved and a difference of 20 points is definitely between that luck/real deal type of score. Understand though a higher score is, of course, better than a lower score (no doubt about that), but is the time involved in prepping and studying for GMAT worth it or is the time better spent working on essay and the application?

Last but not least, if you score a 740 or above, you've just put yourself in a totally different grid of GMAT score and your chance of gaining an admission to the top b-school has increased tremendously.

Last but not least, one reason that I'd retake it if I were in your shoe is if my quant scores have been significantly higher than the real one (Q46). If you're interested in going back into finance (IB) or management consulting post-MBA, that quant score is a bit low to peak an interest in the interviewer. If you can raise your quant score to a Q49 or above, and keep your current verbal score, you'll be looking at a much better chance go get back into banking or consulting after MBA. I know this is a lot, but by no means am I a professional admission counselor. This is purely my own subjective opinion.