I just finished my masters at the G'Town med school, and I may be attending as a med student in 2006, so I am a bit biased. But I can tell you about their reputation somewhat objectively, as I have had my doubts about Georgetown in the past.
Georgetown has, and has always had, a fantastic reputation. The faculty is top-notch, and they graduate lots of students into their specialties of choice. It is a very orthopaedic surgery-heavy school...for instance, last year I think 19 people went to ortho residencies. Apparently one year there were 25 or so. I don't know if this is a measure of how "good" the school is, but obviously they are graduating a lot of people into competitive residencies. It is a private, Jesuit school, but as both a student and interviewee, I didn't feel like they were trying to push a catholic agenda. They do, however, take professionalism and spirituality very seriously, which is, for me, at least, a definite plus.
That being said, the facilities are not as "shiny" as at many of the other schools I have visited. The medical school is older, as is the hospital. This is a potential drawback to Georgetown. It may not make much of a difference in the first couple of years, but if you are planning on training at state-of-the-art facilities in years 3 and 4, I don't know if Georgetown is on par with other institutions. However, you should probably ask a student who is in their later years about this if it has been a concern/problem. It seems to me, that if students are being placed into competitive residencies, they are adequately trained during med school.
Overall, the students seemed very happy to be there. There are research opportunities (as I said, the faculty is top-notch!), service projects, and just about any other experiece that you would find at a "top 10" medical school. And the Georgetown reputation, as I said before, is fantastic. Just ask your average Joe Schmoe on the street, "what do you think of Georgetown Medical School?" and see what kind of response you get. And think about it...these are the people who are going to be picking your name out of the Kaiser Permanente directory in 7+ years....who do you think they will be more apt to select? The doctor with "Georgetown Med" associated with their name, or "The University of Lesser-known school"? (I'm not knocking other schools or saying that they are necessarily worse, I'm just saying that there is going to be some advantage to name recognition.)
I hope this helps. I loved Georgetown as a graduate student, and I would be very happy having the Georgetown reputation backing my application to residencies in another 4 years.