To be honest, I don't really know much about IR, but that GRE 370 doesn't look good at all. Not that it's necessarily important to get a high GRE verbal score (like I said, I'm not sure what IR programs are looking for), but that 370 sends the message that you didn't put in the time to prep to raise your score to 400+, which from my experience, seems to be the bottom range of what schools will accept, even for such fields as computer science.
If you're going to change your mind and go for the MBA, then you WILL need to do better on the GMAT verbal than you did on the GRE verbal.
But first, might I suggest you do a bit of research into what kind of program best suits you? Applying to grad programs is no trivial thing.
