<p>VP,
You’ve got it absolutely right on your Step 1 & 2. Unfortunately when you tell most posters here that they don’t meet Step 1, they cite Step 2 as the reason that they should submit an application.</p>
<p>I also agree with your last statement that a competitive applicant needs to apply to several of the most selective schools. I’m not talking about having a list with 20 schools on it, but 10-12 is reasonable under those circumstances.</p>