I'm a 3L and can promise you the classes and lifestyle get much easier after 1L. During 2L, the professors stop using the socratic method and instead treat you with respect like a future colleage. And the above poster is right, 3L is a freakin' cakewalk.
You mentioned that you are terribly out of shape as well. But the truth is that you can make time to work out if you really want to, and it's definitely worth it. Exercise relieves stress, makes you feel good, and makes it easier to deal with the 1L workload. Perhaps instead of scouring this discussion board, you could jump on a treadmill or pick a hobby. For me IM sports was an aweseom source of fun and stress relief during 1L.
As for jobs, I was in the bottom of my 1L class and faced the same grim job prospects as you. The bottom line is that you can either use your grades as a source of frustration or motivation, but its ultimately up to you. The choice is yours. I hustled and ended up with a federal clerkship so now I'm just cruising to the finish line. I really hope you don't drop out of law school based on 1L experience but lets face it, many people do. Just know that 1L is not a good indicator of what it means to be a lawyer. At least get a 1L summer job and see if you like it, perhaps clerking in the local court. Make it happen.