Only 2 "big" factors in MBA admission?

[sunnycalifornia]

for MBA admission I know that the biggest factor is work experience/how long you worked, how successful you were, blah blah. The other thing is of course the GMAT, but what else? Do EC's in college matter at all? I know recs also only matter very little, and I heard is somewhat important as long as you don't have a 2.5. Am I missing anything here?