I went to class, read everything (but briefed nothing), and went through a supplement or two for most classes (usually ones with problem sets). I did almost no outlining. I occasionally looked at someone else's. I did a few practice exams in advance of each class. In the end, I was fairly well-prepared for every exam I took, even though class/work/study only took up to 30-40 hrs of my week. To be better prepared, I'd recommend the following:
1) Write a detailed outline for each class. Consult it often and pare it down often as you go. Try to get outlines from 2Ls and 3Ls who ended up doing well in previous iterations of the class (for any given professor, not much changes from year to year).
2) Make sure you know the black-letter law well enough a few weeks in advance of the exams to start doing practice exam after practice exam, and little else.
2) is probably more important, but 1) would help with 2).
Sidenote: my class notes were atrocious and I barely looked at them. Transcription would've been helpful, but I can't type that fast. If I heard something in lecture that I already knew, I'd rarely write it down--but that wasn't such a good strategy, given that something I knew the day of the lecture might not be in my memory two months later.