I took the GMAT 10 years ago and scored a 740 with minimal study. I got into INSEAD the first time around, but decided not to go. It worked out well for me as I was able to make a significant amount of money through IP investments. Because of that I have annual passive cashflows of over $350K but I still plan to run my business while I'm in school
My considerations are the following: I went to a top tier state school for undergrad and grad school, but I just felt like I wanted a degree from a "prestigious" institution. My grades in undergrad weren't all that stellar since I basically stopped going to class after I got into grad school.
Does it make sense to get an MBA still when I really just want the degree and possibly the network? But I will be a good 10 years older than most students. I'm looking at mostly shorter programs, INSEAD/LBS etc. Although if I can get into Wharton/HBS/Stanford I would do it.
I know a lot of the comments might be that it's a stupid idea to get an MBA just to have the "paper." No job I'm going to get out of MBA school will be able to make more than I already do, so looking for a job is not important to me.