Here's my experience: Finished my app early August for the 2012-2013 cycle
California Polytechnic State University - San Luis Obispo
Stats: 3.90 GPA Overall
DAT: 23AA/22TS/26ochem/24gchem/19bio/21PAT/22QR/22RC
4 Good Letters of Rec (three professors I'm close to - Research, personally, and TA'ing - and my VERY OPTIMISTIC dentist)
Tons of EC - including working 4 jobs simultaneously and research for ~2 years.
But I only applied to four schools: Minnesota (In-State), UNC, UoP, and Texas San Antonio.
I heard back Early September from Minnesota, interviewed October 26th, and was blessed with a December acceptance. However, I didn't even hear back from those other schools until March-April... Bummer considering Minnesota was my fourth choice hah.
Don't let this scare you, but I would my two MAIN mistakes were these:
1. I applied to only four schools, two of which (UNC and Texas-San Antonio) accept "mostly" in-state students. I should have varied it up, applied to some Ivy's, some other private schools, but cost of attendance scared me away (Even though I ended up getting the Air Force HPSP - blehhhh silly me haha).
2. I applied in Early August, which in my opinion is the "beginning of the 'late' applications." I have heard it's best to apply in June, mostly because schools have a lot of interview spots to throw around, saying, "Hey, why not invite this guy/gal for an interview, they have decent stats and were on top of it enough to apply early!" At the beginning of the cycle, they have 100% open seats, 100% open interview slots, it just makes sense that they would be less selective (not to mention, not everyone applies in June)
The month of July is what I call the "End of the 'early' applications" from my experience. This is mainly because there was hearsay about the majority of applications being sent in during the Late July-August period (not sure if this is true, but it's what I heard). So applying before the large influx of others is to your advantage, logic stated in the previous paragraph - more seats/interviews open, better chances to fill a slot, even if your stats are lower).
Now, I didn't follow my own advice, but I still got in (Lucky for me!). I'm posting on July 10th, so you still have time to be in the "Early application" period by my insight. Also, I heard of people with a lot lower stats than I getting more interviews/acceptances than I did. So it's a lot about the pool of schools that are on your list as well. 🙂
My advice for this stage of life: Don't worry, because you're exactly where you need to be in order to get where you're going.
Best Wishes!