Hi Meisme,
First off, a 700 is an outstanding score, so depending on your Quant and Verbal Scaled Scores, you could probably comfortably apply to any Business Schools that interest you. As such, a retest might not be necessary. There's no harm in retesting though - and to answer your immediate question, an IR Score of 2 would likely NOT impact your applications at all.
Before I can offer you any advice for this next phase of your studies, it would help if you could provide a bit more information on how you've been studying and your goals:
Studies:
1) What were your Quant and Verbal Scaled Scores for your Official GMAT? Is this the only time you've taken the Official GMAT?
2) How long have you studied?
3) What study materials have you used so far?
4) How have you scored on EACH of your CATs (including the Quant and Verbal Scaled Scores for EACH)?
Goals:
5) What is your overall goal score?
6) When are you planning to apply to Business School?
7) What Schools are you planning to apply to?
You might also choose to purchase the Enhanced Score Report. While the ESR doesn’t provide a lot of information, there are usually a few data points that we can use to define what you should work on to score higher. If you purchase the ESR, then I'll be happy to analyze it for you.
GMAT assassins aren't born, they're made,
Rich