Careful guys -- you are comparing hours to what they might mean in undergrad. In reality the shorter the hours, the more they expect you to be covering outside of class. In general you can expect lectures to account for but one form of passing through the material. So whether you get 4 hours of lecture a day or 8, you are still likely going to be studying from morning to night in med school, every day. Typically folks read material in prep for lectures, attend lectures, and then review the material again after lecture, and again go through the material over the weekend, and then once more in some form before the exam. Lots of passes through the material, which takes lots of time.
Sure it's nice to have some flexibility to schedule whether you like to squeeze in a workout in the morning or afternoon, around your studying, but you probably have the same flexibility if you go to a program that lets you watch lectures remotely via AVI, or if you choose to self-study and not attend lectures at all. Bottom line is that I wouldn't pick a med school based on this so much, because while it sounds like it's easier to have 4 hours of class a day vs 8, the tests are going to be on the same amount and detail of info, so it's more a question of how much you like to read on your own versus get it through a lecture. Sometimes you have a better idea of what's important if it's emphasized by lecturers in longer lectures, so longer lectures often mean you are better focused into what to study for exams -- you spend less time spinning your wheels.
Bottom line, expect to have to work harder in med school than in college, and expect that fewer hours in class simply means the expectation is more hours in the library, because all programs cover the same material with the same level of detail, for the most part, all take the same boards. And all are squeezing in a ton of information over a fairly short two years. Meaning if you aren't getting it in lecture, you are getting it in note-sets and handouts and secondary resources you are supposed to be reading on top of this.
So don't get too excited that this school is out at noon while that one has class until 4. Most people are going to be studying in some fashion (be it in lecture or library) from early morning until late night most nights however you slice it. You might get to pick your poison, but it's still all poison.