Undergrad was 3.0. Grad so far is 3.6. I accumulated a lot of hours (1000+) as an EMT and worked clinical full-time in another setting for a year. Other than that, my EC's are pretty average (pre-med clubs, volunteer events, shadowing MD and DO, etc.)
The schools I interviewed at this cycle didn't know I was in the masters program. So I think the only reasons I may have gotten love was because of my LoR's, my clinical and EMT work, or my decent grades in Orgo I and II.
For the grad vs. undergrad GPA, the reason it's not viewed on a similar level is because graduate work is not standardized. Bio I and II, Chem I and II, Orgo I and II, etc. are nearly all the same courses and cover the same material regardless of what undergrad institution you attend. This allows admissions officers to compare each applicant fairly. Many grad schools/programs inflate grades and the classes usually don't cover the same material, thus a masters degree at one school can be a worlds apart from another. That being said, should you choose to go to a regular masters program (non-SMP), it's best if you attend a program that has a reputation for putting the majority of its graduates into medical/professional schools.
Also, when you fill out the application, be it AMCAS or AACOMAS, your grad GPA will be separate from your undergrad GPA for the reasons I stated above. Each school has a different way of calculating your grade based on what the app service gives them, but most will look at undergrad GPA first and then calculate grad gpa to a lesser extent. So although the masters GPA will not replace the undergrad GPA, it will give you an edge in demonstrating your preparedness for med school (so long as it's in a reputable program and you do well) My advice is to contact admissions offices at the schools that you want to attend and ask how they calculate graduate GPA. More often than not, they'll let you know and that way, you can gauge your decision based on what they prefer. Theres a thread on sdn that talks about which schools are friendly towards students with masters degrees, if you search around a bit you could probably find it, they started a small list of grad-friendly schools and how they calculate the gpas.
Unfortunately, I did all my research on this after I started my graduate program. This is why I said I would have been better off doing a real SMP (with linkage) or a post-bacc instead of the masters I'm in...the 3.0 undergrad GPA gets me screened out from a lot of schools and bringing it up would definitely help me out if I had to apply again. So ultimately, it's not that grad GPA doesn't count for anything, because it definitely does, it's just that undergrad counts for much more. That being said, having a 2.7 undergrad GPA and a 3.7 grad GPA (with a good mcat) will definitely get you in somewhere...however an upward trending 3.4 undergrad GPA (or even higher if you utilize retakes and apply DO) with the same MCAT may do just as much for you, if not more.
Fit in what you can for volunteering (clinical is always a plus, but doing something you're passionate about is even better) and definitely shadow a lot, but don't let the time you commit to work/EC's impinge on the time you spend studying for the mcat. It's too bad that this is how it goes, but more often a high mcat (34+) with the bare minimum EC's will be interviewed sooner than a mediocre mcat (~24) whose life is dedicated to volunteering.
