Top Law Schools

Anybody else applying to these? I see the deadlines are in mid-January mostly. I heard from an unreliable source that they don't evaluate your applications until the deadline, so there isn't an advantage to applying earlier. It makes sense, since most require your 1st semester grades and references and all that.

Is this true? Would I be all right applying after finals? When is anyone else who is applying going to send in their apps?

Also, how competitive are these?

I'm applying after finals. Just can't justify taking the time off from studying now. And from what I hear, it's pretty competitive.