Hi mat2089119,
Many Test Takers spend 3 months (or more) of consistent study time before they hit their 'peak' scores, so if you've really been studying for just 1 month, then it's likely that you just have not put in enough time and effort yet to have honed the necessary skills to have scored higher on the Official GMAT yet.
In addition, the process of taking (and reviewing) a CAT requires a significant amount of energy and effort - and takes time to 'recover' from. This is one of the reasons why you typically shouldn't take more than 1 CAT per week - and your last CAT should be taken about 1 week before Test Day. By taking 4 CATs in the week before your Official GMAT, there's a reasonable chance that you experienced some 'burn out' on Test Day. Even if you didn't "feel" tired, the fact that BOTH your Quant and Verbal Scaled Scores dropped certainly makes it sound as if you were not at your best.
GMAC has publicly stated that the Official Score that you earn on Test Day is within +/- 30 points of actual ability. Considering your Official Score - and your overall performances on your CATs - there's a reasonably chance that you could score 700+ on the GMAT right now. It's also possible that you've taken your CATs in an unrealistic fashion that has led to 'inflated' results - and if that's the case, then you'll need time to continue to hone your Quant and Verbal skills AND properly train for the exact parameters of Test Day.
The reason I asked about your timeline and Goals is because the Score that you "want" and the Score that you "need" to get into your first-choice School might not be the same thing. A 670/Q45 is a strong Score, so a retest might not be necessary.
1) What are the exact application deadlines for the Programs that you're interested in?
2) What is the minimum GMAT Score that you would apply with?
GMAT assassins aren't born, they're made,
Rich