Great thread. Probably my last one before I leave this weekend.
I fully believe in the value of humility. Maybe because it's my Asian upbringing, but there really is no reason to boast. If you're good, people will find out somehow and "boast" for you. Since we're all human beings, no one likes to be around someone that makes them feel inferior all the time, so you'll make no friends if you're not modest and humble.
I've met more than my share of people from Harvard/Yale/Princeton or MIT who think they're "all that" (no offense to the humble H/Y/P/M people!), but when we take a class or work together, I out do them.
Some people may have better accomplishments on paper, partially because they're really smart and able, but also partially because they were in the right place at the right time. It doesn't mean much to compare against those accomplishments and conclude that you're inferior or otherwise. Just get to know the person, learn from him/her, and hope that they learn from you too.
I'm totally looking forward to b-school, especially if everyone there is top notch like the friends I've made here on GMATClub! I LOVE YOU MAN (OR WOMAN)!