The Economy Hits Summer Internships

Number of positions applied to thus far: 10
Number of positions with first round interviews: 3
First-Pass Yield: 30% (although one interview was with a very prestigious firm)

Number of first-round interviews "in the oven": 1

Number of positions with 2nd round interviews / offers: 0
Final-Pass Yield: 0.00%

Am I being too picky? Or should I not be so desperate? Or should I just take a 2 month vacation? The only such time I'll ever have so much free time?