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Averaged a 161 on all practice tests so I'm disappointed I was 1 question away from 160. I'd LOVE to go to SMU or UH. Any idea what my chances would be for those two as is? Would it be worth it to retake in October?

You need to retake. SMU shit itself over almost falling out of the T50 and went nuts, so you'd probably need a 163-164 or better.