Need your help. Here are my GMAT Scores:

Dec 17,2005 - 600 70% (Quant: 49 - 90%, Verbal: 24 - 36%)
May 30, 2006 - 680 89% (Quant: 49 - 90%, Verbal: 34 - 72%)

I didn’t get the score as much I expected in verbal. I am totally confused whether I should take GMAT next month or focus on applications.

I have not short listed the schools yet but I only want to target top 15/20 business schools in the US.

Here is my profile:

Indian ?Bachelor ?29years - Engineer (Computer Science) =>This is what makes me want to write GMAT again.
- Working in a top IT MNC for the past 6 years. Total experience 7 years.
- Current Job profile is coordinating IT work across different countries. Have been a techie but now into management role.
- Not so good College Grades. Very Good School Grades.
- Have been in the US for the past 3 years.
- Don’t have great social service experience. Planning to work on this. Heard this is very important.
- Have a hobby for which I have won some awards and am still pursuing. (Not sure whether it will help)

My question is :

1. Should I retake the GMAT or start work on my applications?
2. With my profile, do I stand a chance in the top 15/20 schools? I want to do MBA (Full Time) in IT Systems.

Thanks a lot.