Does SAT really not matter after a certain score?

@tamagotchi @IndySceptic @skieurope
I am applying this fall so I don’t really have much time left to build other parts of my application. I am already working with a professor for the summer so I have that aspect covered and I plan to submit my first applications as early as the end of August or early September. Between my work with the professor and writing essays, I don’t have much time. What are the “other elements” I should be focusing on apart from extracurriculars and essays?

I was thinking that because I am already spending time on these things, I can use the little time I have left to take one more attempt at the SAT just to see if get lucky I guess.