I have a 3.87, I'm highly considering staying another year to make it to a 3.9. AFAIK, 3.87 is just the 50th percentile and that scares me. I had a bad grade that lowered my GPA from a 3.9. My LSAT score was 173, last score was 171.
HLS is my top choice. Do I seem like a waitlist?
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Spending an extra year of undergrad for a chance at a marginal improvement in your chances of admission to Harvard Law seems silly to me. Maybe you have other reasons to spend an extra year in college (factoring in academics, jobs, friends, living situation, etc) but this would be pretty low on the list for me.
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You have fine chances, an extra .03 isn't going to make/break it. You are literally better off getting interesting work/volunteer/life experience in that year.
edit: Why just HLS? It's just one of several good schools, and with a 3.87/173 you'll probably snag $$ even from CCN, so I don't necessary get the obsession with .03 difference just to be 2% more competitive at Harvard. Even so, your odds of avoiding the waitlist increase if you just apply early.
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