Hi BrandonBlah,
The plan you're describing would likely only 'work' at that one Program AND only if the Program Director keeps his/her word. Before you decide whether to go through with this or not, it's important to consider the other Programs that you plan to apply to.
1) What are the Average GMAT Scores at each of the OTHER Programs?
2) How do you suppose your 560 compares at each of those Programs? Would you need a higher Score to be competitive at any of them?
3) Are you interested in Scholarship money (and if so, then what GMAT Score would be required for a Scholarship?)?
Assuming that everything you've described is accurate, then your plan makes a certain amount of sense. The fact that your Quant Score did NOT improve though, even after the focus you put on Quant before your second attempt, is clearly something that needs to be addressed. You might need to invest in some new resources and learn/practice some new Tactics.
GMAT assassins aren't born, they're made,
Rich