I'd be interested to see the analysis or references to this analysis, if anybody has any links.

I'd be even more interested to see how GPA correlates with people actually getting an interview and getting a position there.

It wasn't too long ago that Google required you to have above a 3.8 GPA to be a serious candidate. I can accept that there isn't too much difference between people in the 3.8~4.0 GPA range, but I'd expect that there would be a significant difference between someone getting a 3.8 and a 3.3 from the same school.