I too was thinking on this. I have the GPA to waive most of my programs. I'm not applying to a top tier school, simply an online grad program so that I am not attending classes exhausted after work. This way, I have a decent work/school/life balance and can take things my own pace.
My GPA is goodish, but not the best, lingering around on the border of most waivers (3.55).
However, most programs did give me a heads up that even if I meet the GPA cutoff, sometimes they also give out waivers based on the rest of your application (recs, statement, WE (biggest deal here), and if you already have professional licenses. The two recruiters I've spoken with have said that I was a promising and strong candidate for business school BUT, to make sure to take the GMAT as it's always best to have a plan B.
Both recruiters from different schools noted my high GPA, yes, but warned that I shouldn't rely on the possible chance of getting it. Because if I DON'T get a waiver, now it's already August, I'm doing the applications and find out suddenly I don't qualify for a waver :/
I guess, for me personally, better safe than sorry?