Hi there,
Thanks for shooting over the PM with this question but I felt I should respond in the forum in the event others were facing a similar decision point.
I'm not going to beat around the bush - do NOT do this. The short of this is that it will seriously damage your candidacy. Doesn't matter which schools. Yes, if you were applying to the top 5, this would sink your application, but no matter where you apply in the world, they'll be comparing you to people who took the GMAT while working and rocked it. If you're telling the school you can't handle studying for the GMAT while you work, how are you POSSIBLY going to handle business school they'll wonder?
Not to mention, you're young - with a few years of experience, taking 6 or 12 months off could be up to 33% of your professional career. That's a HUGE hit to your resume!
Lastly, if you're not taking the for another 6 to 12 months, the thought that you would do significantly better having studied full time (and this is hardly the LSATs) isn't perhaps the right line of thinking. The chances of you doing better are slim at best. You could also do worse because you've over trained!
So no, don't take time off. For anyone reading this who is considering the same - don't do it. A few weeks (max) of sabbatical is ok if you feel you need it but that doesn't hit your resume which is the only reason I'm remotely condoning it.
Hope this helps!
Bhavik