xixtrays
Waste of time. You are higher than the average at every B-School. Instead of taking again, devote your energy to writing awesome essays.
That's not entirely true. Average GMAT scores have been on the rise each year. Stanford already had an average GMAT over 720 at least 2 years ago, and with scores going up it's likely that Wharton, Columbia & Harvard (possibly Chicago as well with their new ranking) will have average GMATs over 720 this application season.
The key though, is to look at the demographic you are in. It's been widely discussed, but the Indian male demographic is probably 30-40 points higher than the overall average at a school (so 750-760 will be an average score for this demographic at Stanford), while the Asian male demographic is about 20 points higher than the overall average.
That said, I would say that you should consider retaking only if you have good evidence to believe you will do at least 30 points better. Schools know that it is common for people go gain a few points on a retake, and in any case 20-30 points is still within the normal margin of testing error. I will agree that it's not worth your time to retake if it will affect your ability to deliver top-notch essays.