Need advise on rejecting my 2nd GMAT score plus a review.

Hi Folks,

I concluded my second GMAT attempt yesterday with a score of 680 ( Q45 V38 IR 3). 20 days before , in my first attempt of the GMAT I had scored 670(Q49, V33, IR 5,AWA 6).
I am in a dilemma right now. Need your advise on how to proceed :-

1) Though the second GMAT score is 10 points higher than my first GMAT score, isn't the Quant on a very LOW side ? The Quant score and the IR score has me thinking whether I should cancel this GMAT score of mine. What do you opine ? Do colleges( my list as below) focus on the GMAT score or do they also take into account the individual sectional scores ?

2)Do I have an option of reporting any one of the two scores to the different B-Schools as I deem, or by default the GMAT only reports the higher score ?

3)Now I would be starting my application process. What do you think about my chances in the following schools ? I know my Verbal is on the lower side( in the 1st Gmat score), but do I have any chance of convincing the interviewer( if I get an interview) that my verbal skills are better that what the score suggests?

My list of Schools :-


University of Michigan: Ross

HKUST Business School

Nanyang Business School

Cornell University: Johnson

UCLA: Anderson

Carnegie Mellon: Tepper

University of North Carolina: Kenan-Flagler

University of Texas at Austin: McCombs

University of Washington: Foster

My Profile (in brief) :-

I currently work for INFOSYS as an Associate Consultant. Though, I work in an IT company, my work is not completely related to IT. I work in a niche domain ( ERP systems--SAP) and mostly interact with clients. Infosys is my second company, the first being Tata Technologies ( a small but unique company with its interests ranging from designing automobiles to designing Airplane hulls ).For the first two years of my employment with Tata Technologies, I gradually graduated from a solutions engineer to engaging more with the client and giving a wider perspective of how our solutions would simplify their work. Hence when I was given an opportunity to work for more international clients, I jumped at it and switched to Infosys. My goal of becoming a product manager is in line with Work and experience I have gained .
I am an indian, male( 26 years ) and have graduated from Birla Institute of Technology(15th rank throughout India) and hold an undergraduate degree in computer science.
Have a few extra curricular activities, mostly in the NGO space (Had worked in Sarva Shikya Abhiyan- The Government of India's Flagship Initiative for Free primary Education during my college days ) and last year I opened my own school in my village. This school is the first English medium school in my village.

What do you think?

Can I translate my 12 months back breaking work to start my own college in between my work and Gmat studies to something unique ?

Please advice