I took the GMAT four years ago, when I decided to return to school for an MBA. At the time I didn't think it was very important. I already had a lot of job experience and a lot of education, so I knew GMAT wasn't going to be a big factor in my application. I looked at a test prep book for a couple of days and took the test and scored mid 600s. That's not great, but it was good enough for what I needed.
Then I read this article that says the GMAT is being used as a selection criterion by employers who are trying to weed through all of their applications. No matter that the test wasn't designed for that purpose.
This trend is even worse than using personality tests for selection, and that's pretty bad. I wonder if some employers have simply given up on trying to interview people for their qualifications and fit and are looking only at the numbers.