Guys, relax. It's going to be okay. It is totally normal to feel like this in the first weeks to months into medical school. My best advice is to try and LEARN the material as opposed to memorizing every little piece of minutia caked on the lecturers slides. I would also recommend deviating from the course objectives. Find a review/board book (preferably FA) and for each section of a class, see what is highlighted in the board book and hammer that home. You may not get you an A+ in the class, but it will help differentiate between what is important and what is "fluff".
Also, the way you study for one class may not be the best approach for another class. The way I studied for cell was completely different than the way I studied for pathology. Also, throughout the year my note taking skills changed. I was the type that typed everything out on my computer next to the ppt slides, but then I got a iPad a few months into school and converted all of my powerpoints to PDF files and took notes on Notability. This allowed me to annotate, write, and draw on my slides. Then, a few days before the exam, I would take a "snapshot" of the high yield slides and compile them into an album on my camera roll for that particular test and go over it several times leading up to the test. This was sufficient for me, and didn't completely eat up all my time.
In UG, I was the type who learned best by writing/drawing diagrams, but found that I had to deviate from this strategy during medical school due to sheer load. Whenever there was extra time though, or I felt that I really couldn't memorize or understand something, I would draw the appropriate diagram pertaining to that concept. Point being, with my strategy, not only did I managed to survive first year, but I also feel like I actually learned the important, big picture concepts from my classes that are board pertinent. This is more important in my opinion because boards>>>> pre-clinical grades. The sooner you figure this out, the better off you'll be.
Lastly, AVOID discussing grades with anyone, especially after the test, especially at the beginning of the year. It will lead to people lying about their grades, hurt egos, confrontations, and you doubting/reconsidering your study strategies. When it comes to grades, worry about your own and don't worry about what the guy with "photographic memory" or the person who "didn't really study" got on the last test. It doesn't matter because in no way does it or should it affect you and your output during first year. You know your capability and the effort you need to put forward in order to be successful, and that is all that matters at the end of the day. Best of luck on the road ahead. It may seem difficult at first, but you will find that you have another gear and everything will become manageable soon.