Hi 730 is very good 'bargain' to keep for, even if you plan to retake. If you want to change your mind, you can reactivate within 72 hours in the gmac website.
Who knows your second gmat gives you lower than 730 ? Google about 'retake gmat lower scorr'. Surprisinglu, most people experience lower score during their second retake. In my case, my second retake dropped by 40, from 620 to 580. Now I am scoring like you: Q49 V40 (but 720).
If you get 760 or above on the retake (I truly hope you do and may I reach that soonest), then of course it will reflect in your score report. But don't worry, H/S/W will note how committed you are to excellence, how serious you are to apply the top-tier b-schools, and how you have progressed positively.
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