I truly do not think it increases ones chances of law school admissions that much.
Wrong...but that doesn't mean I am against AA. To say it doesn't increase it that much is a farce... go check LSN, it's obvious there is a difference; that's not to take away from your accomplishments, however. Good luck.
I agree, although the perception of how much it really matters seems to differ even amongst minorities. I, for example, only assumed that it meant my application would get throughly read and discussed instead of being tossed automatically into the reject pile. Once there, it would be up to the applicant to dazzle them with ps, LORs, WE, etc. But then you have URMs with 3.0-something gpas and LSATs in the 150s who think they have a decent shot at NYU or columbia.
I still think it really only guarantees a 'read,' but then again someone got into yale last year with a 3.1/165.
Short answer: I have no idea.