tkatz561,
710 is a great score....but yes you are right, the IR score is low. School admissions in 2012/2013 won't count IR. But starting 2014, your IR score is going to stand out (negatively) among all the applicants. 710 puts you within range. Yes, schools don't emphasize IR as much currently...so they may lower the "bar" on IR down to 4 perhaps for top schools. 2 falls below that.
Seeing that you improved your 660 to 710, this is already a great sign. You can always "blame" your low IR score on the new, unproven section. But if you apply for enrollment in 2015 and onward, you should probably consider retaking. For now, focus on strengthening the rest of your application (work experience, essays, etc). Leave IR for the following year if you need it. And when you do need it, you can try some
practice IR questions from gmatpill.