Hi there! I'm a second-year and I'm happy to answer your questions. I posted for last year's applicants, too, so you may want to check out my previous posts for more info.
1) The Pass/Fail curriculum is unranked for both FOM1 and FOM2. You will find out the median, SD, and mean for each block exam in your second year (can't remember if we got that first year) so you at least have a sense of where you are in comparison to the rest of the class, but students are not ranked against each other.
2) There are tons of research opportunities even if you have no research experience. The CTRP is kind of intense; if you're interested in it, please try to get in touch with a current student in the pathway so you can learn more about it. The Capstone requirement does not apply to students in CTRP because CTRP students are required to complete a Senior Scholars project, which is similar but not the same.
3) Capstone can be WHATEVER you want, literally. There are so many different projects people are doing, it's totally up to you. If you want to do research, you can do research.