I played D-I baseball and will be starting med school here in a couple weeks. I can attest to both the astronomical time commitment and the astronomical payoff from playing college sports. It is a totally awesome experience and I applaud all of you for playing for all these years and still being in a position to apply to med school. I thought I would share a little of my experience in the application process so maybe some of you can benefit from my mistakes.
As far as sports helping in the admissions process, it only helps if you play a sport and still do all the other stuff that the normal people do. Admissions committees won't give you a break on grades, MCATs, and/or health-related extracurricular activities just because of the huge time commitment associated with playing a varsity sport. I came to this conclusion because I had good grades and MCATs, but no research experience and not too much volunteer experience as compared to most premed people because I was always at a game or practice. I thought people reading my application would be like, "wow, this guy played varsity baseball, so that makes up for the extracurriculars." But I was wrong. I happened to get lucky and get into one school off a waitlist, which I am very thankful for, but the schools I did not get into all told me it was because I did not have enough clinical or research experience. So, all of you jocks should still try and do the research and clinical stuff when you have time during the summer or something to maximize your chances. I know you'll still have training and summer leagues or practices or whatever, but you should still try and squeeze something in there that could help.
Maybe you all already knew this, but hopefully it helped those who didn't. Good luck everyone.