Whoa! ajm, I must disagree.
Many, if not most, med schools prefer completed grad degrees. Few of us grads got in by applying while still in grad school.
There were several threads on this a few months ago, and others will share their horror stories, like mine, in which they applied while finishing a degree, but got rejected on that basis alone. You can even see this information in print from med schools if you look hard enough (boy is it hard to find).
Bottom line: the rules are different for grad students.
Why? Mainly because it causes bad blood for one grad program to 'raid' another, and they don't want you to bail on your program midstream.
By the way, I think there was only ONE poster who got in by applying as she was finishing, but her case was rather special--she was in a program connected to the med school or something like that.
Trunksvegeta, I'd do some more research on this topic by asking an experienced advisor, or by calling med schools' admissions.
best,
kris