1) Make time in M1 and M2 for career exploration, especially fields that are not part of your third year rotations. Pretty much all the competitive fields require research and strong letters, so if you end up loving one, better to find out early so you have time to put together a strong application.
2) In a class of 150 people, you will find 150 different study methods. Listen to all the advice and then find what works for you.
3) Seek help early and often, ideally before a problem actually happens. This applies to academics, social, personal -- everything. Your school wants you to succeed and will do everything it can to help you. They can do a lot more for you if you seek help early.
4) Focus on yourself and don't worry about what others are doing. If you hear that so-and-so only studied for 2 hours before the exam and the aced it, it's absolute bull. On the 0.0001% chance it's true, good for them and who cares? Do what you need to do.
5) The people who complain loudly and often about one thing will likely complain about everything else. For many med students, complaining is either a coping mechanism or a subtle way of bragging about how much they can take.
6) Pass. This is your number one goal. Worry about Step 1 and residency apps later. Initially, take it one exam at a time until you know what it takes to comfortably pass. Don't assume that you'll be fine because you did well in college -- so did everyone who failed a class. Start strong and then titrate your efforts once you feel things out.
7) Take advantage of every opportunity your school gives you. Tutoring. Faculty review sessions. Everything. You've already paid for it, so use it. I went to tutoring religiously and would do it again in a heartbeat -- so did everyone else at the top of my class. A couple hours a week with people who just took your exam -- you'd have to be an idiot to pass that up.
8) Don't listen to boards advice from people who haven't actually taken it yet. They will be very surprised at how much stuff appears that they said wasn't boards relevant.
9) Forget high vs low yield. For boards and even classes, if you want a top score, then everything is high yield. High yield is what you think about in your final days before boards, not for the 2 years preceding it. If you add up all the "low yield" stuff, you get a pretty hefty chunk of potential points.
10) Don't blow off the fluff. I've seen people miss out on AOA or fail and have to remediate because they blew off the fluffy stuff. Consider everything important.