Here's some more info I gathered today (also posted in
http://forums.studentdoctor.net/showthread.php?t=985003):
I talked to some UCSD pharmacy students today, and they basically confirmed many of things talked about here. They did note, however, that there is a LOT of activities to do for being such a small school, and it is very easy to take advantage of leadership opportunities.
The curriculum, while difficult, isn't impossible, and will be good for people who like to understand the bigger picture behind the drugs, and to help us "connect the dots." Since I personally understand and remember things better when I know "why," this is actually beginning to sound appealing to me.
They did say that you need at least some honors designations to be competitive for a residency, but it's more important to show a balance between school and extracurriculars (i.e., leadership). I feel like if you choose which classes you're going to really focus on, you can get those honors distinctions. They said that since UCSD is a respected school, the residency locations know that the caliber of students is high, so they don't need letter grades. Schools that are not as well know and use the pass/fail system may have more difficulty placing students.
Also, the alumni network isn't that great, as expected, which is why you will need to make connections through your internship, clerkships, and other people you know. This is probably the biggest con, in my opinion, and where UCSD is weakest when compared to the other two.