Retake GMAT ?? (740, Poor IR of 4)

My 2 cents.

DONT RETAKE!

I wont worry too much about the IR. That verbal score is amazing, you probably got 4-5 wrong altogether among the 41 qstns. 47 is also pretty solid. If you are applying to Quant schools like Booth you need to understand that they do give the quant weightage. However, even these schools look for a benchmark, ie you dont need to score 50 to make it you need to make sure you dont score below 42/43(for e.g.) to make it. And here too we are only talking about specific schools not all schools.

You have to weigh the risk to the reward. The reward is those 1 or 2 points(or more) that you can gain to come into the 80th percentile(I got 49 - 81 percentile). The risk is , your Quant or verbal or both may drop complicating the equation.

Start concentrating on your apps now and feel good about your hard work in getting this score.

Never give up!