When I started this process, I thought that it was all about GMAT and that meeting with current students/faculty was above and beyond. If I had it to do over again, I would have still worked really hard on the test, but I would have assumed that everyone else is meeting with people and getting their applications forwarded to the appropriate parties by contacts.
My experience has been that I got interviews at 100% of the schools where I was able to connect with people, and only two of the school where I did not. However, of the other two schools one was Northwestern where getting an interview means absolutely nothing and the other was Yale, which is outside the top ten.
Anyway, I am VERY glad I wised up enough to get in touch with people at the schools that I did. As long as I get into one of those, things will be fine. I am slightly concerned that I will go 0 for 4 at the schools I interviewed at, which would SUCK. I cannot begin to describe the hours I spent on the GMAT and essays, etc...