MBA Questions

Background: I've worked in Investment Management as a Fixed Income PM for over six years (managed billions for insurance cos and separate accounts). After getting let go about 20 months ago (I still am getting some interviews), I officially am a labor force dropout. I have kept busy volunteering and just feel like doing something a bit different (I am still very young). I was hoping to attend a top B-School (INSEAD seems the most attractive to me to maybe do consulting). I have a tremendous amount of references as well (not many went to INSEAD).

Q1: I was wondering if anyone could answer if my work experience would trump a lackluster (B.S. Mech Eng) GPA. I have a cumulative (transferred one year from one school where GPA was 3.67) GPA of ~3.1, but ~2.9 GPA from the degree-granting institution.
Q2: Does a L3CFA candidate look attractive to top B-schools?
Q3: I was let go involuntarily, does this ding me?

Thanks for any assistance with the Q & A.
My apologies if anything was addressed in another posting.