Agree with much of what has been said already. Also a PGY1 here so have recently seen both sides. Apologize ahead of the time for the length.
Away rotations- Bonedoc is spot on about away rotations. They can be extremely helpful if you do all the things you are supposed to do like reading for cases, being involved, interested and engaged, knowing the patients your team is taking care of, and generally being a normal human being. That may all sound like common sense but clearly not after witnessing some of our rotators this year. Laziness, not knowing a darn thing about the cases you are scrubbing on (provided you knew the cases ahead of time), falling asleep in conferences etc. This is a month long interview, it is a long process and its tiring but don't let up on your away rotations, it will hurt you and you will have wasted a month. Do all the things you are supposed to and do them well. Don't be fake, be yourself (really, trust me, everyone will be happier that way) and work hard. And absolutely what averagejoe said, pick your aways wisely and pick places you are really interested in ending up at.
Step 2- Step 1 is obviously one of, if not the, most important factors in getting interviews. However, Step 2 is becoming more important. If your step 2 score isn't in by applications or you drop significantly from your step 1 score that becomes a big deal in my opinion. There are plenty of people with high Step 1 scores, all else being equal, Step 2 can elevate your application or hurt it if you think that because your step 1 is high enough that it can overcome a pending or a lower Step 2 score. You've obviously done well on step 1, take step 2 early and take it seriously. If you score 270 on step 1 that is obviously hard to replicate but if you score 257 or something on Step 1, it looks weird if your step 2 comes in at 242. The vast majority of people improve on Step 2, do not underestimate the importance of improving or coming pretty close to matching your step 1 score.
AOA- I've mentioned it before but I think it is becoming more and more important in distinguishing applicants that all look very similar. Don't disregard early classes because you think no one cares about pre-clinical grades. Pre-clinical grades matter for class rank and they matter for AOA nomination.
Research- any research. Ortho is better but any research will do. Programs want to see that you have done some, understand the steps of a project and have demonstrated at least some minimal interest in advancing medical/scientific knowledge. You have to complete a project in residency, they don't want to hold your hand through the whole project if you have zero experience in how research works. Huge advantage if ortho, pubs, or numerous presentations but have some research on your app even if it didn't amount to anything, it shows you've done some and know something about the process.
Connections/Letters- not always a whole lot you can do about these but ortho is a small, small world. Everyone knows everyone in their field it seems and who your letter writers are and how strongly they recommend you play a big role come interviews. Multiple interviewers brought up my letter writers and where/how they knew them. One place even called up one of my letter writers to ask about me :ohmy: . We always say it is more important to have a great letter from someone who knows you than an ok letter from a big name. Whats even more important is a great letter from a big name. If there is faculty at your program that you feel comfortable with and have a good relationship, it may be worth it to have them contact people they may know at other programs and put in a good word. You have to have that type of relationship with them which is why it is important to start making connections as early as possible. I would recommend getting letters from people that are involved in their respective sub-specialty meetings/organizations because they are more likely to know and have relationships with faculty from other programs which can help out when they are reading your letters.
Just my two cents from my own experience and thoughts on a very convoluted, non-straightforward, stressful process. Others may disagree or have different experiences which I think just shows that nobody really knows everything that goes into a successful application.