Since the the early 1990's most Harvard students graduated with honor. Harvard and other Ivy League school have been inflating grades for almost two decades. It was a big scandal few years ago when it came to light.
This is one of many articles about this issue:
http://www.npr.org/templates/story/story.php?storyId=1133702
That's the undergrad. Most law school classes are graded on a strict curve, and magna cum laude only goes to the top 10 percent of the graduating class.