Recruiting for Sophomore Rotational Programs

Hi,

I am currently a sophomore at a great school (not ivy league though). Every bank comes out and recruit here every winter. I have a decent resume/experience/gpa (pe, boutique, mid tier ibanking experience with a 3.8+).

I am looking for people's input on sophomore rotational programs...

do they still exist?

what firms?

level of difficulty? ( i know is hard.. but how hard?)

What i should expect besides a typical ibanking interview?

chances?

backup plans?

I have heard of people from ivy leagues that intern two summers straight at ibanks (in their summer analysts program) and there has been a few cases too at my school..

will it hurt my chances for junior year recruitment?

will ibanks really let a sophomore intern?

should i be content at the midtier that I am at? or even apply for their summer analyst program

Thanks guys.