It's not really a question of components versus each other, it's a question of components considered together. MIT doesn't weigh high school GPA vs. standardized test scores -- they consider the application as a whole.
If you look at the
admissions statistics, you'll see that a few people with scores like yours are admitted every year, but not very many.
The basic advantages of EA are that you may get a decision early, and if you're deferred EA (as about 70% of applicants are), you'll get a chance to think about your application during the months of November, December, and January and send in more information to make your application stronger. The disadvantage is that you'll have to have your application together by November 1.