GMAT: 720 (assume this score for now, but please advise if a higher score would add anything - I haven't taken the official exam yet)
Undergrad GPA: 3.4 overall, but significant trend higher once in major courses (3.8 in double major of accounting & corporate finance) - grades in all quant classes are strong
Undergrad Institution: Average public school in the Midwest
Work Experience: 2 years w/Big Four accounting firms (1 of which was M&A due diligence) out of undergrad; 2.5 years of private equity experience (3.5 at matriculation), including a board of directors seat at one portfolio company
EC Activities: Pretty light on this end w/work hours and being married!
Gender, etc.: White male
I won't go to b-school unless I get into a top 7 program, as my employer would prefer that I stay at the firm. I'm obviously concerned about my timing, given my apps would all be Round 3, but if I were to go, I'd prefer to go this year (start in fall) as I am currently 27 (28 in April) and would be worried that I'd be on the older side if I wait to apply for Fall 2011 admission. Also, the fact that I am a white male in finance (coming from NYC) does not exactly help the schools 'round out their diversity' in Round 3.
Thoughts regarding admission to the top programs in general and, more importantly, whether Round 3 or applying in the fall for 2011 admission is the better path given my characteristics?