UTgrad2006,
Though adcoms may in fact note the offsetting verbal skills you mentioned, and will certainly review your transcripts, you can't assume they will draw the compensating conclusions you want them to. That is, you need to spell these connections out for them in your optional essay. Since there is no hiding the weakness, you need to proactively do damage control on it rather than hope they don't notice it if you don't mention it. That doesn't mean you have to give them a two-page apologia for your verbal skills. You can keep it brief and to the point and even add it as a separate closing note to an optional essay that primarily focuses on a more positive topic.
Or, better yet, you can retake the GMAT. If this was your first attempt, if your practice test verbal scores were higher, and/or if you didn't get professional help on your test prep then chances are you can raise that verbal score.
Good luck,