Average class GPA for Quantum II (required for all physics majors) is 2.76.
I got a B. So, no, Georgia Tech doesn't do grade inflation. And Quantum I is worse (but a lot of people drop the major after taking Quantum I, so that's skewed).
As for research I've got six weeks with the Navy at Carderock and a year and a half with a professor here.
I guess one thing that brings me down is that physics majors usually get As in the early classes, but I brought in credits for pretty much all of my university core requirements (all the way through Physics I and II, DiffEq, foreign language, english, history), which would otherwise have brought up my GPA.
I figure they'll be able to figure that out by looking at the transcript itself, though.