KidA
There are a couple other schools I will apply to Rd 3 (where I may have a better shot) so perhaps it doesn't make sense to risk diluting the quality of those two apps at the expense of the Wharton app, when chances are so slim. I'm not sure how to best allocate my time I guess. But I need to figure that out asap.
I hope I did not dissuade you too much, just wanted to make sure your expectations were in check. Wharton for many, including myself, is a stretch and by no means a sure thing. Especially if it isn’t your top choice, I think using Wharton R3 as a “fallback” would be a poor decision. I agree with your quote…at this point in the game, it is all about time/effort optimization. If getting into school is the end game, you might be better off overall looking at a less competitive pool. If you do decide on applying to Wharton, I would put all my eggs in that basket and come up with the best essays possible.
Your extras do sound interesting, and could certainly paint the backdrop for a compelling story. I know R3 deadlines aren’t too far off, so best of luck to you.