Cancelling / Accepting GMAT Score Strategy

Hi,

Would someone be able to confirm whether there are any shortcomings with the following strategy?

From my understanding you can cancel your GMAT score and retake it. You can take the GMAT score up to 5 times in a year and up to 8 times overall. Schools will only see the scores which you have accepted, or which you have reinstated.

Given this, would it be possible to just keep doing the exam until you reach your desired score (up to the limit outlined above), cancelling each time you don't get the score you want. Then accepting the score once you get it (if you do get it that is). If you become bored of attempting the exam over and over you can always stop and just reinstate the highest score you achieved?

I know this feels like you are gaming the test to a slight degree, and personally I think that you shouldn't be able to cancel scores, but given that you can is this a valid strategy?

I ask because i had a target of 730 and achieved 710 on my first attempt. So i feel i can just retake the exam a few times and select the highest score? Or am i missing something?