Importance of the College GPA

I'd also like to say that while your GPA does help, it also helps to be able to network with people. From my internship alone, I am on good terms with the CEO of the company, my former supervisors, my current supervisors- all people who, when asked, can vouch for not only my work ability, but also my character. That I feel is the most important.

This is the only real answer. A degree is a degree. Your transcript is nothing but a tool to get people's attention when getting your first job. A high GPA just correlates to a high level of motivation and good work ethic, which is why employers tend to look for higher GPAs when selecting potential candidates. I honestly don't think I've ever seen GPA requirements more specific than "2.5+", "3.0+", or "3.5+", and 3.5 is pretty rare, because that excludes a lot of excellent candidates. Of course, once you're in the door, it's all about working hard and maintaining good relationships with coworkers, supervisors, clients, and other people in your field.

Extracurriculars like volunteer work are mostly useless for the purposes of getting a job, unless they provide some relevant work experience or demonstrate leadership capabilities. People just want to know that you're a well-rounded person that has real interests. It doesn't matter if that is volunteering at an animal shelter vs. playing in a band.

For highly competitive fields, I've heard that the GPA pretty much serves as a filter. If you are applying online then a low GPA might actually drag you down. Then again, you should always try to apply in person if at all possible.

A 3.0 GPA is not bad at all though. I'd say you have as much chances of getting the job as any other average joe.

Personally, I don't have any experience on this matter. I'll get back to you in half a year though.
*sigh*

Dreading the job market.

An easier way to determine if your GPA matters is if you tell us what you're studying for.

In Engineering (at least Computer Engineering) a lot of companies have a hard cut-off (normally 3.0, sometimes 3.25 or 3.5).once you reach their cut-off the rest is Work Experience/Research, clubs especially onces related to your field (particularly if you hold a leadership position) and some volunteering never hurts.
If the company likes your resume you will get an interview in which you must sell yourself with personal projects (or school projects) showing that you both know about and are interested in what they want you to work at.
So the GPA only helps to reach that cut off to get an interview. Past that is all you and the GPA is no longer important.

Also helps to know people who know people that can get your foot in the door. Having freshly graduated college, some people might be willing to take a chance if the recommendation is from someone they trust. Hence why it's awesome to know the CEO of your company, your supervisors, etc. For example, my dad was a business major and has MASSIVE networks that I can pull from. If I didn't have that, my GPA would hold a lot more meaning to me.