Hello Guys,
Of recent I have become a bit active on the GMATClub thanks to a flurry of developments. So, I thought of turning to the bright and helpful people on this forum. Please share your 2cents with me ..
BACKGROUND - Got a 720 on GMAT, was at the top of the world

. Applied for 6-7 colleges and got interview invites from a good number of them

. Then the world came crashing - Got dinged from all alike. Got 2 waitlists as well
ANALYSIS - Low work ex (3 years by joining) and R2 application (being a part of competitive applicant pool I thought I should have been wiser) were, as per my analysis, the Achilles Heel. My workex was not something stellar.. and neither were my interviews outstanding (but they weren't bad as well). Since its an area where nothing is objective, I would rather not ponder upon this further.
STATUS QUO - Got an admit from one of the college's which had waitlisted me. I was looking forward to an admit from this college but the thing is now, since i have been admitted from a waitlist, I don't see any scholarship happening. The Avg GMAT of this college is 60points less than my score so I feel this si a bit unfair. Anyhow, the thing is that since I didn't get an admit by March, I had already started preparing for the GMAT and am half ready. I might be able to improve my score to 740 or 750 the way I see it.
The PROS can be - I can apply to another college in R1 and get a decent admit; I can apply for this college next year in R1 (telling them monetary factors effected my decisions earlier); I will be better prepared for post-MBA roles considering that I will be joining with 4 years of workex.
The CONS - I may not score higher; The college might not allow me to defer this admit; I might get admitted to a similar college next year as well
I am a bit "dazed

and confused

" right now. So, any help will be highly appreciated....
Thanks in advance..