It really doesn't. I was #2 in a class of 39 (lol) and my Math SAT was pretty poor (710) - not good enough to get into schools like CMU, Berkeley, or even GT.

It really doesn't. I was #2 in a class of 39 (lol) and my Math SAT was pretty poor (710) - not good enough to get into schools like CMU, Berkeley, or even GT. Plus I didn't have research, ISEF awards, USAMO/USACO medals, and everything else that's expected at elite institutions.