I am in a similar boat to you; I had actually taken both semesters of general chemistry and gotten a C- first semester. I didn't have a 3.8 from a top ten university, but rather a 3.1 from a small liberal arts college, so I didn't even bother applying to Bryn Mawr and Goucher.
The Penn program has worked out perfectly for me. I did it in 1 year + 1 summer (with the exception of postponing the organic chemistry lab until my "glide" year.) I started with gen chem in the summer of 2005 and am now sitting on a med school acceptance to start this year. As others have mentioned, there is a curve, but most of the professors are not jerks about it. For example, the biology instructor told us at the beginning of the year that she doesn't mind if lots of people get A's, and the physics instructor has several "safety nets" in his grading scheme whereby you can prevent yourself from doing too poorly. If you can score in the 90's on exams (which is feasible if you're smart and you study; the CGS sections aren't like the crazy undergrad sections where they make the tests so insanely difficult that the class average comes out to 60) you're going to get A's.
I was actually warned before I started that the Penn program was filled with "gunners," but I didn't find that to be a problem. Lots of people studied in groups. I mainly studied on my own and did fine.
One other interesting thing to note is that the basic prereqs aren't taught by Penn professors, but rather by Penn staff and adjuncts who are full-time professors at other area universities. It's not a problem at all, just don't think you're going to be approaching the thrones of mighty Ivy League professors.
It's also a heck of a lot cheaper than Bryn Mawr, and probably Goucher too. And with a 3.8 from a top ten university, volunteering and research experience, you'd probably stand a good chance for one of the linkages.
I'm also willing to answer any specific questions. Good luck.