First, it depends who you are competing with. If you are a Chinese male from engineering, sciences, IT background, then GMAT 700 is below average for 牛校 because 10年工作非商业经验.
Second, it is too late for 2008 application but a little bit early for 2009. So if you want to give a try, why not? 3 months to get a high score 740 (M50V40) or 760 (M51V41) is a good deal.