Everyone I've talked to (undergrad health professions office, friends, med students) pretty much agrees that you shouldn't apply early unless your stats are great. However if your stats ARE great then you'll probably get in regular anyway and you can see where else you get in...
but the doctor I work for applied early to Baylor with good--not great--stats and got in the first time. He didn't have to fly all over the country interviewing, didn't have to pay AMCAS and lots of secondary fees, and he knew where he was going as of Oct. 1.
So despite others' advice, I'm applying early to Baylor also...my numbers are higher than Baylor's averages, I feel like my extracurriculars are good, and I'm hoping that my doctor can help me a little with his recommendation.
Basically I would say if you are doubtful about how much the adcom from that school will want you it might be dangerous to apply early cuz if you don't get in you'll be behind with the rest of your apps...but hey, if you really want to go somewhere, applying early is a great way to prove it to them! Maybe they'll like your enthusiasm for their program and offer you a spot!