Your score is on the low side of where you'd want it to be, but let me start off by saying that there is DEFINITELY not a required GMAT score for any school. Anyone who tells you otherwise doesn't know what he's talking about. Also, there really is far more to your application than your GMAT score. Most people who think that nailing GMAT is the most important thing end up not getting in. They come across as far too one-dimensional in most adcomms' eyes.
So, remember that the GMAT is just one part of your app, and a low score can be overcome with a compellng application story (significant leadership experience, overcome adversity, unique career goals, etc.). If you're still concerned about the GMAT and how it might affect your chances, the best way to judge your chances at a particular school is to look at that school's middle-80% range of GMAT scores. That info is available in our book and also online at places like Business Week's web site (
https://www.businessweek.com/bschools/04/index.html). Most people trick themselves into thinking that they have to score
at least as high as the school's average GMAT score, but this is simply not true. The higher your score, the better, but as long as your score is within the school's middle-80% range, then your GMAT probably won't keep you out.
Were you planning on applying this year? At this point it might make more sense to take on last serious shot at the GMAT in the spring/early summer and to apply in the fall of 2005. I don't know how you prepared for the exam in the past, but if you take it again, I recommend doing as much preparation as you can. Many applicants simply keep taking the GMAT without significant new preparation, but if you jsut keep preparing the same old way, how will your score improve? So, I recommend maybe even taking a GMAT prep course if you haven't already. Then, take the GMAT, hopefully do well, and then forget about it and move on to the even tougher parts of your application, like your essays and recommendations.
Good luck,
Scott