Hi jimwild,
From these initial pieces of information, there are some details about your studies that are worth noting (and improving on):
1) Many Test Takers spend 3 months (or more) on their studies before they hit their 'peak' scores. With just 2 months of study, It's likely that you just didn't put in enough practice time to hit your goals.
2) You used a 'book-heavy' study approach. Many Test Takers who do that type of study end up getting 'stuck' at a particular scoring level.
3) You were not scoring close to 740+ during practice (to make that outcome likely on Test Day), so you should not have taken the GMAT at that time.
All of that having been said, raising your score 120+ points AND working on your applications for the Round 1 deadlines does NOT sound like a practical idea. With the Round 2 deadlines though, you would have plenty of additional time to work on everything and achieve your goals. Right now, you do not need 700 "level" questions - you need to focus on learning and practicing the proper tactics so that you can avoid getting 'hung up' on individual questions again the next time you take the GMAT. Investing in some new practice resources will probably also be a must.
What work have you been doing over the last 3 months?
Have you taken any FULL-LENGTH CATs recently? If so, then what were your scores?
GMAT assassins aren't born, they're made,
Rich