Stepehen,

Yale tuck and Sloan are more than just competitive schools. They are in the top 15 schools all over.

That said, your decision to retake depends on other parts of your profile. If you are from an over represented group, then you are at a disadvantage. For e.g., I am an IT applicant from India and the number of people applying from India, IT comprise 30-40% in every school. Hence my 700 did not help me. My friend in the US got into Columbia with a 700.

You need to verify your profile against the profiles at these schools and see if you are a match.
The main parameters are GMAT, GPA, Essays, Work profile (Best place to differentiate yourself) and extracurriculars. If you post more of that, I am sure someone will give you more thoughts.

That said, 700 is a very good score and I envy your Verbal score. Congrats!

For e.g., I am an IT applicant from India and the number of people applying from India, IT comprise 30-40% in every school. Hence my 700 did not help me

How much is required then to get into a good school. Also how many years o work experience do you have?

I was accepted only to Smith School of Business after a long waitlist period. I have waitlist at Boston too.

I was rejected from UNC/Emory/ etc.

Depends on your definition of a good school. And other factors in your profile. Even an 750 on the GMAT will not get you anywhere if the other factors are weak. For eg, weak essays/interviews/community easily nullifies the effect of a good GMAT score.