agree with Mike - unless there's a bit discrepancy in your math and verbal scores, your score is fine. You can also contact the schools to which you plan to apply and ask them whether they think your math / verbal breakdown is fine or problematic; they'll be happy to advise you.
Basically, even the top schools won't reject someone FOR a 700 (they will certainly reject people who scores 700, and even higher, but not because of the GMAT score). The GMAT is used more as a "threshold" marker - can you do well enough that we know you can handle the work here? And the answer to that is "yes" at the 700+ level. So now they're really going to be scrutinizing the rest of your application - it's important to make sure that you make it as stellar as it can be, because your essays, work experience, and recommendations are actually much more influential in getting you in. (For example, someone with an amazing story - essays, work exp, etc - can get in even with a sub-par GMAT score. But someone with a sub-par story is not going to get in even if that person has a 800 on the GMAT.)
By the way - congrats. 700 is a great score!
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