For the first year class this year, classes went from 8-5 Monday, Wednesday, Friday, and 8-1 on Tuesdays and Thursdays. Since they're moving lunch to 12 pm instead of 1 pm starting next year, I'm not sure what they'll do, but you should get two half days a week for independent study unless they change things. From what I remember, Fridays rarely go all the way until 5 pm - they usually end at 4 pm, or earlier. Not always though.
DO NOT buy all the textbooks. Trust me, you don't need a lot of them. Two right off the bat that I can tell you are an utter waste (unless they change things drastically for you guys) are the Micro book and the Biomaterials book. I'm not telling you this as someone who barely passed my classes. I'd wait until classes start, and then check with the second years about which ones are useful.
One book you should definitely buy: Netter's Atlas of Anatomy. Also, if Lippincott's Biochem is still on your textbook list (since you won't have a biochem class per se), it's a good buy since it's cheap and it'll probably be a good reference for the board exams. If Dr. Bashirelahi teaches any lectures for you guys, you'll for sure need the Lippincott book. Besides those two, there's only one other book I felt I truly got a lot out of (the neuro book).
When it comes down to it, for almost every class, the professors' powerpoints and old tests are the key. For some classes old notes, all on computer, are key. Like you said though, your big brother or sister will be able to help orient you.