Hi pafrompa,
At your current scoring level, the GMAT becomes really 'sensitive' to little mistakes - if you make too many, then a 740+ score simply becomes impossible to achieve. Based on your Scaled Scores, you don't have any big 'weak areas', so if you are going to retest, then you really have to nitpick WHY you're getting questions wrong (you almost assuredly know the content just fine, but you're missing some little things or making some little mistakes that you have to eliminate from your 'process.').
With highly competitive Schools, you have to make sure that you have a strong OVERALL application AND that you properly 'market yourself' to each individual School that you plan to apply to. Raising a 710 to a 730 likely won't make much difference to your overall application (since many of the applicants who you'll be competing against will have a similar, outstanding GMAT score), so you might want to consider whether your time, money and effort might be better spent strengthening your profile in other ways.
GMAT assassins aren't born, they're made,
Rich