I'm a M2 and more or less in the top half, maybe third, of my class from my own estimation. Busy but life's good.
Tons of people I know from my Penn days are in med school now or will be. Even the other track (the non-trad folks who didn't take the prereqs) have been getting in last year and this past year based on what I've seen on facebook.
As far as I can remember with a lot of folks, some decided to do something else with their life instead, or go to dental school or something. There are a few kids who didn't do as well in the program and are doing SMPs or other similar programs. Hopefully things work out for them. But for the most part, the majority of my friends in the program got into med school.
Basically, if you get lots of A's in the program and have bumped up your GPAs beyond at least a 3.4, it's going to help you a lot in the long run especially if you have a great MCAT. It's not really the program itself that will get you in, it's doing well in the program that will, and that's 95% dependent on you.