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is there any reason not to apply this cycle even if i didn't do as well on the LSAT as i was hoping (163)?

maybe i get lucky and get in/WL somewhere i didn't expect to? if i don't, then i plan to get a job, study for the lsat, retake it, and re-apply next cycle. but is there any reason why i shouldn't try my luck?

are there any?

Depends, what schools would you realistically like to attend? You can get into some OK regional schools on the level of UW, Davis, Hastings, and Cardozo, but you'll need to retake if you're aiming higher.

Also depends how much you're willing to spend on app fees.