If you are a 155 I'd say get yourself into the best school you CAN get into and possibly try and transfer next year. Or else, sit it out a year and retake the LSAT after a big prep class. If you do not get your average into the 160's you donít have any kind of realistic chance at really good schools. It really doesn't help retaking the LSAT. The MAJORITY of re-takers do not help themselves by re-taking. Some may get 8 points higher, but that is totally unusual; you need to feel that kind of confidence or you'll never hit a 165 or higher.
On the other hand, you donít have to go to Michigan to get a decent education. I have a friend whose husband graduated from Hamline, a tier 4, who makes a significant amount of money now. You have to graduate in the top half once you get there, no matter where you are, or you'll be screwed (well maybe not at Yale, Harvard, Stanford...) If you can get into an upper 3rd tier or even lower 2nd and graduate in the top 10% you have a way better chance at success than if you went to Michigan and was in the bottom 10%. A big majority of the people who post on these boards, they all THINK they know what they are talking about.
Remember that the egotistical thing about rankings is only partially true, and it is over-hyped. You can be a success no matter where you go. It is up to you. You'd have to let of the online BS that is telling you that going to a 3rd tier (or even 4th) is some kind of horrible thing. When the simple fact is, the majority of Americans can't even get a 150 on the LSAT, much less get accepted to ANY law school -- just by getting an acceptance, you are already elite, jeffjoe. The people going to Yale and paying 30 K a year want to have you believe that no other school matters. Yet, if only these schools existed, most Americans would be unable to have any kind of legal representation. It is the little people who need a good lawyer. Rich people can hire whomever and buy their way out, but the less fortunate need someone who is smart and dedicated and who thinks more of being a smart lawyer than about where he went to school. Don't get me wrong, I understand this BIGLAW thing... But I think the only realistic way you will ever get in a good law school is transfering after the first year.