Most PDs care the most about step 1 scores and M3 clinical grades. After that M1-M2 pre-clinical grades are not so important and holding up the rear are extra-curricular activities in a "oh that's nice" kind of way. Only the top few specialties generally care about research like derm, plastics, orthopedics, and rad onc. The top few individual programs in all specialties probably care about research, like Harvard or Yale or what have you.
I'm not going to do any damn extra-curricular activities because this isn't ****ing high school and I'm not going to pretend to do something I don't really care about anymore. But I know a lot of people who are social chair of this or president of that. Seems pretty worthless to me.