Profile evaluation, and some advice needed

Personal Info:
Male, 26, Indian
GMAT: 710 (49Q, 38V)
GPA: 3.6 from GaTech (Summa Cum Laude)
Other: Completed Level 2 of the CFA Exam. Planning to take the final exam next year.
Nationality: Indian, grew up in Singapore.

Work Experience:
Been in Finance (investing) for 5 years.
Last two years have been at a Private Equity firm.
Primary responsibilities:
Worked on numerous transactions across a numerous sectors (generalist)
Initiatives/Leadership at work:
Built a proprietary monte carlo risk model to analyze risk/return profiles of private investments. (This is my proudest achievement at work)
Created an analytical tool to better evaluate/summarize investment opportunities (This tool has loosely been named after me)
Founded the Research Club at work and I help moderate these discussion monthly on current industry topics
Member of the Company's IT Committee. Coordinated with IT department to develop platform to track/monitor incoming deal flow


Outside work:
I've always loved innovation and this is apparent in school and work. I've also always wanted to start something of my own. I merged both passions and recently started a company (in Feb 2009) that allows companies to tap into the innovative capacity of students and use it as a means of hiring talent while providing decent practical experience (and other intangible benefits) for students. I work on this non-stop after work hours with my wife and we're making good progress - recently hired a sales person and are close on getting our first customer.

ECs:
After college, helped out with Special Olympics
In October 2007, I was asked to join the Board of the local Special Olympics branch.
Implemented numerous initiatives in this capacity over the last year.
numerous ECs in college (College soccer club, managed 40 tutors in a tutoring program, cabinet member in Singapore Society and India Club)

Future:
While I love investment analysis, I'm a "do-er" and this line is not conducive for future managerial expertise and harnessing my leadership skills. I'm committed to my current business venture and if things go well, I'd love to use the network and resources of the business school (if I get in). If my venture fails, I would have learned a heck of a lot and I would use business school as a learning tool to make my next venture successful. Regardless, my current efforts have really highlighted to me the benefits of a powerful network and a resource center such as a good business school, especially ones that have a focus on entrepreneurship. I'm still crafting my story.

Application history:
I applied to Harvard and Wharton in R2 last year, but got dinged at both places. I don't even know why I applied to Harvard - I did that application in 1 week (yes, I know, I shouldn't have - but I did). I worked on my Wharton app for about 2 months, but I think it could have been rosier and there was very little time towards the deadline as I got married then.

This time, I want to be VERY well prepared.

I'm looking to apply to:
Wharton (re-application), Stanford, INSEAD, Chicago, MIT, LBS

My main questions:

1) Is my GMAT score of 710 a hinderance? My start up venture is a LOT of work and if I start studying for my GMAT again, this is going to be very burdensome and I may lose traction with the venture. Would I be better off trying to get my startup somewhere than getting say a 740+ on my GMAT?

2) How realistic a shot do I have at the schools I've stated.


Please help. Thanks so much!