Georgelakers:
To answer your question: maybe. It depends on the program and a variety of other factors. Generally speaking, applying earlier is usually better especially if we're talking about rolling admissions so long as your application will be as "ready" as it would be if you applied later. Applying early is also much preferred if you are looking and qualify for any scholarship money.
All things being equal, I really don't know if that is going to be the difference between getting in this next year and being waitlisted this year. It probably is not, but you never know. As bb mentioned, I would not advise on rolling the dice on a reapplication strategy on this basis alone. You would need (a) need to give up your current offer (assuming no deferral, and even if you get one, then you're talking about foregoing a significant security deposit) and (b) delaying your MBA experience by a year.
Lastly, since you would be a reapplicant, you would also need to show progress since your previous application, which would be harder to do if you're talking about applying in the beginning of the new season having already applied at the end of the previous one.
Ultimately it's your call, but I would stick with the bird in the hand over the two in the bush.