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ISB 2012 class aspirants GMAT Accepting B-Schools

Only a few days left ISB (2011 class) so thought all those preparing for the next year should get together to start our race to make it next year.
My Profile -
Work Exp - 3.5 yrs IT. A problem here is I don't have a exp certificate for about 10 months of exp as I left Infy and broke the 1 ...
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Hi Guys...I am into big trouble now..
Here is my profile...

Work-Ex: 5.5 years till april, 2011
Domain: 3 years Memory Chip design + 2.5 years Microporcessor design
Short international stay as per business requirement on B1, Award at work place (nothing different).
B.Tech: IIT Kgp, Electrical , CGPA: 8.63
XI-X: 90%-91%
Extra Curricular: So So..Job fair participation, NCC, NSS, Certificate from NGO
Publication: One international publication in a prestigious journal

BUT :wow: biggest disaster happened four days back..
GMAT: 640:banghead:, V27, Q50, AWA:5.5 ....result of my over-confidence after scoring 720+ in all practice tests..I can't retake GMAT before 1st Dec but isb deadline is 30th nov,2011.

I am sure that I will be rejected due to my poor gmat score..
However, if I wish to apply for isb this year, what are the pros and cons.....

Pros:- Isb provides feedback for profile improvement...If it mentions that, other than GMAT, there are other areas where I need to improve..it will help me in future while applying to isb.

Cons:-Could somebody elaborate this...Does it require significant improvement compared to previous application or If I work on their feedback, it will suffice..


How could it be that you are from IIT and score below 700 in GMAT ? Were you a quota candidate?
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