I just took the GMAT yesterday, and I scored poorly: 670 (Q48, V34). I had scored between 730 to 770 on practice tests, but the stress during the exam knocked me down. Since I am already late in the application process (haven't sent out any applications yet). I am not sure whether to apply for accounting PHD for 2011 academic year (deadlines come around 1/15/2011), or to waite for a year, re-take GMAT, and apply for 2012. Thank you for your sincere advise.