In terms of scheduling, I think it depends altogether on your personality. My friend, for example, did phenomenal in her first rotation and became known by all the big heads in the dept she was going into. They basically told her they had a residency spot waiting for her after that. Me, on the other hand, had a rocky start. However, by the end of the year, I felt comfortable doing almost everything. So again, do some introspection to determine if you need some more clinical experience first and how much or if you think you'll hit the ground running.
In terms of getting honors in IM, my advice would be (whenever you do it), the most important thing is to work hard!!! Be thorough, read on your patients, practice your presentations (presentations are sometimes all that attendings see or hear of most med students). Think about your differential diagnosis and what favors a certain diagnosis and what puts other dx's lower on the differential. Try to be the primary Dr. for your patients. Earn respect from your intern, residents to be in this role by working hard and thinking hard about the assessment/plan. Be proactive. Also, working together as a team is key and the housestaff likely has a decent say in whether you get honors from the clinical side. The academic side of getting honors...well, I'm not going to go in depth, but try to think of diseases in terms of patient's sx's, physical exam findings, vitals, labs, differential dx's, treatments, and risk factors, which is the step of clinical medicine. It takes time, but work at it and it will come easier. Good luck!