CollegeBoard is better positioned than ACT as they have CSS Profile and AP tests both of which make $$$$. ACT doesn’t have those extra income streams, but one thing I am certain of…it would be better for all of us if CB has competition.
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@skieurope and @Catcherinthetoast, yes, I realize that all things are never equal in holistic admissions, which is why it is all the more important that this OP consults with his school counselor rather than following the advice here. The counselor will have a much better idea of the relative strength of the rest of OP’s application, and whether it will be enough put him in the running with the applicants from his high school who scored in the 1560-1600 range on the SAT. Those speculating here really have no idea.
More generally, I am very sympathetic to the viewpoint that it shouldn’t matter whether a student scores 1510 as opposed to a 1590 on the SAT, and at most colleges it may not matter. But the reality is that at least with regard to a small number of the most desirable colleges it oftentimes does matter, especially among kids applying from high schools where a 1510 puts an applicant near the middle of the pack, rather than on the far right tail.
Anecdotally, I know a number of similarly situated kids with otherwise excellent qualifications who were advised by their counselors to either retake the SAT or to apply test optional to certain schools, even though these kids had scored similarly to OP.