They always have law school panels in my school, probably once every 3 months or so. The last one had the deans of admissions from Harvard, NYU, Cornell, Columbia, and Yale. Somehow extracurriculars always come up. In each of those instances, they always respond that being focused on a few activities is significantly better than not being too involved in a plethora of them.
I was thinking of posting an "Extracurriculars thread," but if the OP doesn't mind maybe I can jack this one. What are you guys's extracurricular activities?