Hi sb1988,
First off, a 700 is an outstanding score (it's right around the 90th percentile overall), so you should apply to any Business Schools that interest you. The Q45 itself won't impress anyone, but that's okay (unless you're planning to apply to highly competitive Finance Program or other Specialty Program, the it might be an 'issue'). Business Schools are going to evaluate you based on your OVERALL profile (and you have a GMAT score that puts you 'in range' of any Business Schools you might consider) so you have to make sure that your entire application is strong AND that you're 'marketing yourself' correctly to each Admissions Committee.
What Schools are you specifically interested in?
When are you planning to apply?
GMAT assassins aren't born, they're made,
Rich