My cousin was admitted last year to Columbia. His Gmat was 665, 3.35 GPA, but an outstanding resume. He worked for a hedge fund as an analyst, his employer wrote a recommendation letter as to how he would be an asset to the company. For undergraduate, he attended Princeton. His previous experience was almost 7 years and he was also able to get recommendation letters from a Vice President of the firm, who supposedly has a powerful name in the industry. I think you should definitely apply, you should also consider retaking the exam. I did no think my cousin was going to make it. I do know his application was put together phenomenally. I read his essay and he did an outstanding job in explaining what this MBA meant for him and I am not sure if it had to do with anything, his employer paid for the program, which shows that how much a person means to there employer. If you plan to stick with your current employer after your MBA, you should definitely get someone high in chain off command to write a recommendation letter. At least, this is what I thought got my cousin in, as his academics were nothing compared to some of the others who applied. I hope this helps a bit.