My feeling is that since you are already
not planning on applying this round, you have the luxury of time on your side. You can spend a few months researching programs while strengthening whatever is weak in your profile (doing community service, gunning for a promotion, etc), then spend a couple months doing the apps themselves, visiting schools etc. If you can look forward and decide that you have a spare month somewhere in there that you could spend focusing on GMAT (or a spare 8 weekends or whatever), then go for it.
I have to say I really wish I'd had the foresight to look over applications and learn about admissions a year or two ago, so I could have known what to expect. Whether or not you end up retaking the GMAT, you are in a very enviable spot.
Also, retaking the test one time after your initial try is by no means a red flag "too many times" thing. I'd guess you probably have 3 or 4 shots at the test before adcoms start to wonder if you're neurotic.