First of all, Congratulations. A seven handle on the GMAT is a great score. Normally I would say, job well done, move on to focus on your applications. This has been a very competitive couple of years, however, so I am going to go on a limb and say that if you think you can do even better and it wouldn't be a ton of work to prepare, an even higher score would certainly not hurt. The risk you run, especially since you are right on the 700 threshold, is to goof and post a sub-700 on a subsequent sitting which might possibly make your 700 look like a reach score (the schools will receive all your scores when you apply). If you have impressive qualifications for the balance of the application (undergrad, professional experience and community involvement, etc), you shouldn't NEED a better score than you have, though. I know you have heard it time and time again, but there is truly no formula....you have to have an outstanding overall package to get into the kinds of schools you are shooting for. And don't forget, HBS, Chicago, Wharton etc. reject 750+ GMAT scorers every year. Hope this helps.