I'm a bit late, but I wanted to offer my BRIEF thoughts on law reviews. First I think the advice from all the contributors is invaluable to this "ambitious 1L." But I think Prof. Property Law summarized my feelings on the subject very well. To paraphrase her:
"I went to law school with the twin goals of getting good grades and getting on law review. Well neither of those goals materialized as planned. I didn't get good grades and I didn't get on law review. I then found something I cared about deeply and that has gotten me far greater success than I ever imagined. I encourage all of you to look beyond grades and law review and find the thing that you care about and work towards that. You will be rewarded far greatly than if you commit to the competitive world of law school."
Couldn't have said it better myself.