Is GPA more important than everything?

Good afternoon!

I have already started my junior year and, like my indecisive self, stressed over what classes to take. This is my current schedule:

0 - Band
1 - TA (self-study Calc BC)
2 - DE US History
3 - Intro to engineering**
4 - French 3 honors
5 - AP Chemistry
6 - AP Lang
7 - Study Hall**

**I am really debating on these two classes… and maybe even band. It is part of my passion for music, but I am unsure whether the class is worth not getting a 5.0 GPA (I mean… if I do pass all my senior classes with an A).
Are extra electives better, or a higher GPA? I am fairly sure that my class rank of 8 (5 weighted) will fall since I am competing with people who are not having theirs dragged down by classes such as band and engineering.

Also, my counselor suggested that I fill my extra period with study hall so I don’t fall too far behind in my classes. I am wondering if it would be worth it to replace it with AP Psychology or another AP class (assume I can still achieve an A)… I want to be humble about all of this, though I am afraid if this is not competitive enough. I am not really expecting any Ivy League schools, but I also am not sure how I should be going about High School… our counselors are known to be not too helpful.
What are your thoughts?

Thank you and sorry if anything in this post is off or unclear!!

I had a friend who had the exact same problem and our GC told her that it wouldn’t make that much of a difference and to go for the electives. I agreed, then told her that it may drop your weighted GPA the tiniest bit, but the way I see it there is not that much difference between 8th and say 10th. It’s probably actually better to have good ECs and a weighted GOA that’s .1 lower than to have one with no ECs at all.

Grades are critical. Better to have a study hall than another AP class.

I see. I’ve heard that extra curricular is important, but also I constantly hear of glorified graduates who finished with a 5.0 their senior year. Thank you for helping me decide!

About the study hall, I haven’t been doing much lately in the class and believe I can probably handle another AP Psych and easily maintain an A (apparently it is almost as easy as a free period according to my peers)… but maybe the classes hasn’t fully kicked in.
Assuming I could handle it, would sticking to study hall look kind of “weak” per se? I keep being told that colleges like to see students who take up challenges.