the bold copy on the home page needs to go, or be toned down. it reads like the author has turrets with all the emphasis on, emphasis off in each sentence. the headings and bullet points also feel really disjointed. small font to big font back to small font. your home-page is your hook, the first thing people see. it should be more attention-grabbing.
the copy on your about page needs to be tighter. for instance, "LawApplicants.com is a free site designed as a service to prelaw and law students" can easily become "LawApplicants.com is a free service for prelaw and law students." also: "The aim of this site is to share the experiences of past applicants with current, as a rough guide to what they may expect or the type of preparation they may require." can easily become "Our goal is to share the experiences of past applicants with current prospective students." all that stuff about being a guide for what they expect and what preparation they'll require is implied. know your audience: pre law students. they aren't stupid. you don't need to bang them over the head with what you're providing. they'll figure it out. i also think you say "this site" too many times. no need to be overly self-referential.
i tried to sign up but never got an email confirmation. is it not live yet?
also, most importantly, how are you different from TLS, LSN, LSD... quality points equal bloggers? i think you might be better off asking for applicants, or seeking out the most helpful, active members of your community assuming those message boards take off. i dont know if sheer volume of posts/points would do it.