I just finished law school and can not take the bar for two years because I lied on my law school application about my arrest history when I applied four years ago. I came clean to the school about the nondisclosure and they have offered to confer my degree in two years if I stay out of trouble.

I am interested in going to business school for a full time 2 year program starting the fall of 2009. My G.P.A in law school, Penn State, was a 3.34 cum, and put me around the top 25%. I specialized in trial advocacy in law school. I have business experience from undergraduate including working in insurance and starting two campus businesses . I can probably muster up some good recommendations. I'm testing my GMAT at about a 710-750 range. I'm also Hispanic.

Assuming I hit that GMAT range in August,
1) How much will my lack of recent business experience affect my chances in getting in a competitive school (a.k.a is 2-5 years of full time work at a business a prerequisite)?
2) How much will my lengthy arrest record (which concluded four years ago) and nondisclosure to the law school affect my chances?
3) Does proven success in upper level graduate work mean anything?

Any input would be much appreciated, as well as any suggestions about where to apply.