A GPA of 3.5 is not that bad, especially when compensated for by an MCAT of 34.
Did a lot of people say your PS was great? Has an advisor assured you that you have sterling LORs? Did you apply broadly to a reasonable number of schools (15-20)? Are you thinking ahead to a possible Round 2 and improving your ECs?
yeah i agree with Mobius, if things do not work out for this semester definitely think about what you are going to do to improve your ECs. Also it wasnt stated in your original post so not sure if you did, but definitely apply early...
heck i would love to have the GPA and MCAT score. I think it's your EC's and medical exposure that is the problem. I don't think you did enough because med schools want you to be very active. Which state are you in? Is your PS any good?