The rabid rodents in the rectum is probably an apt description, although it's hard to be certain because though I scrambled, I have not experienced the former.
It's the most soul-sucking, miserable experience that can happen in the early stage of a medical career. Consider doing poorly in micro or failing an anatomy practical or having to re-take OB-GYN. This dwarfs it - you just failed "the big one". Not only that, but everyone knows it. Not only that but then you have to sit and smile and congratulate everyone else all week. Then, you have to beg a bunch of secretaries to have them make sure they receive your fax'd application and have someone 'in charge' take a look at it.
I didn't have a spot until 3.30p. Every place I called said they'd take a look, but nobody called back. Finally, my dean found a program where the PD was his colleague. They set me up with a spot. Didn't even have to fax anything. The rest is history, I guess ...
It humbled me so much. I'm never going to be too sure about anything, and I'm going to always have back-up plans.
Final rec: match - it's way better than not matching.
-S