Just FYI comparing me and my friend from the exact same geographical region:
HM: E/E, E/VG,VG/VG, good undergrad GPA, great grad GPA, good GRE's, strong letters, 4 co-author papers, 2 conference abstracts
Award: VG/E, G/VG,G/VG, terrible undergrad GPA, good grad GPA, good GRE's, strong lettes, no papers or abstracts
Although higher in every single objective metric including rating sheets, she got an award because she's a woman in engineering. Frustrating that the most prestigious grad fellowship is not merit based. Oh well, I'm over it. (Luckily, she's my girlfriend and now has to buy me dinners =P)