Right now, in terms of years of experience (and ignoring everything else for a moment), I'd say you're right on the cusp between "go for full-time programs" and "aim for part-time programs." Seven years is on the "older" side for incoming MBA students at FT programs, but it's certainly not a deal breaker.
In short, I would say aim for FT programs, since you can always get another year or two of experience and aim for PT programs later, if the FT path doesn't work out for you right now. (But aiming for FT programs in another year or two won't be very realistic.)
Judging from the three schools you listed, I assume you're in the Bay Area and want to stay there. (I assume you're looking at Wharton's SF campus. ) If you're willing to branch out from this area, I do think you should cast a wider net and take a shot at some more top-ranked MBA programs (the full-time ones). But, again, that's IF this interests you. If you've truly left your heart in San Francisco (heh heh), then just aim for the programs you really want to attend, knowing that they're obviously very tough schools to get into.
Here's what I recommend: Kudos to you for getting your GMAT score up, but I think the odds that you'll get into one of those programs (or another top-ten program) are low with a 650. Not impossible, but low. I'd love to see you get that score up another 30+ points and apply to multiple full-time programs in Round 2. If that doesn't pan out, then you can take a shot at those PT and EMBA programs next year.
Speaking of waiting until Round 2, we just wrote a blog post about this today:http://blog.veritasprep.com/2010/09/adm ... -wait.html