old GRE scores

[mn06556]

I took my GRE's in October 2004 and they expired this year. I'm currently applying to PhD programs and all but 1 school accepted my 2004 GRE scores since I sent them out in August. Anyway, I signed up to take the GRE again for that one school (one of my top choices) but I'm finding I have very little time to prepare for it.

My question: if I take it again and don't do well, the schools I already sent my 2004 scores to will have no way of seeing the new scores unless I send them, right? I had above 700 in each section the first time...

Would it be wise to cancel the GRE and forego applying to the one program that won't accept my old scores? It seems to me like I don't really have anything to lose by retaking it (except $150, grumble...)

Also, I heard that some schools don't look favorably upon 5 year old scores even though they accept them 'officially'...has anyone heard anything like this?

Anyway, any advice is welcome.