Hi abs8,
Since your Official GMAT Score is valid for up to 5 years, you can study for (and take) the GMAT months or even years before you actually "need" your Score. Having the opportunity to focus solely on the GMAT - and not have to worry about any other aspects of your application - can help you to better focus your energies on one 'piece' of the application at a time (which can be quite advantageous, especially if you're planning to apply to any highly-competitive Schools). If you're interested in the Round 1 application deadlines later on this year, then you've given yourself a nice amount of 'lead-time', but you should not plan to purposely take your GMAT so close to the application deadline, as that could derail your whole plan (especially if your Official GMAT Score is not to your liking).
Before I can offer you the specific advice that you’re looking for, it would help if you could provide a bit more information on how you've been studying and your goals:
Studies:
1) How long have you studied? How many hours do you typically study each week?
2) What study materials have you used so far? What “brands” of CATs/mocks have you used?
3) On what dates (or approximate dates) did you take EACH of your CATs/mocks and how did you score on EACH (including the Quant and Verbal Scaled Scores for EACH)?
Goals:
4) What is your overall goal score?
5) What Schools are you planning to apply to?
GMAT assassins aren't born, they're made,
Rich