Hi kjm,
I disagree with what you said: "Like everyone else, I'd love to go to Harvard, Stanford or Wharton, but I understand that my low undergrad GPA puts these schools out of my reach."
Based on what you said about your GMAT experience thus far, I am sure you will score well into 700s. This, of course, will outweigh your undergraduate GPA, which is actually not as low as you think; remember, the grades you received in specific classes matter. As for your fraternity, this could certainly be used to "spin" something into your essays. However, it really depends on what you did at the fraternity. Did you contribute through it to the surrounding community, or did you just get together and bullshit around. On top of this fraternity stuff, I recommend that you do some real community service on weekends, on a consistent basis to build up your list of activities outside of school and work.
Your biggest weakness will be your work experience. If you plan to apply in a year, it will be a challenge and you will really need to prove your level of professional maturity. However, if you plan to work for 3 to 5 years, and then apply, it shouldn't be a problem. I am sure that you will increasingly accept more responsibility and handle bigger client engagements. Furthermore, you could perhaps move into a more senior position (senior associate, etc.) at another company after 2 years with Cisco.
The industry you come from really doesn't matter that much, as MBA students come from a variety of industries (investment banking, tech, nonprofit, logistics, etc.). I think that your tech background would be a great selling point for Stanford. However, you will have to work on separating yourself from the other 200 some engineers, and show to the admissions committee why you are a unique candidate. The time between now and the application deadlines is the best time to start participating in activities that will build you into a unique candidate.
BUT, do not do something just because you need to put it in your application. You will hate volunteering, it will show in your essays and overall experience and nothing will be gained. Instead, choose something you really believe in. For example, I have always felt passionate about education (literacy and numeracy). I volunteer every week at a local school, work with children to improve their reading skills. Every week I impact my students because I truly believe that what I am doing matters. I am sure you can join something similar that pertains to computer literacy. For example, you could tutor senior citizens who would like to become more computer literate.
I am no admissions consultant, but I know this: if you are honest and believe in what you do, others will believe in you and carry your flag for you. Anyway, enough philosophical quips, I'll let someone else chime in.
