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Roland Berger boston or chicago office?
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Cover letter can only strengthen your case - I say go for it. It's rare that subbing one with an application can put you at a disadvantage.
You should do it, it will add to your application. I am sure many other applicants do it.
Yes, add a cover letter. A referral only guarantees that your resume is pushed forward. Other than that, you should do all the necessary work to get hired.
There's no harm in adding one, but don't expect to get far just from that alone. Your credentials will still have to do the talking. It can get you noticed though.
It won't guarantee anything but it sure does help at times. I would definitely do it regardless.