A few people have asked me about getting research experience: so here goes...
I would say anytime is the perfect time to be getting started looking... especially after you've finished your first year, because by the end of that year you'll have some record at the university/college and should be more than ready to be productive in a lab... you've shown you can handle coursework, time to put more on your plate!
A good place to start is asking professors that you had for class (and really thought were good instructors) what kind of research they are doing... or better yet, checking it out yourself if they have a web-page... then just pop in during their office hours (you can find these out from the department). When you meet with the prof, say you are interested in getting research experience, you would like to talk about his/her projects (and see their lab if they are experimental). Usually professors are happy to have students... and you might even get a part-time or summer job with this. If they cannot pay you, they can usually give you some type of research credits.
Don't be discouraged if the first prof doesn't have a spot (or if the research is theory, the prof thinks you don't have the necessary prep yet)... instead thank him/her for speaking with you, ask if he/she knows of anyone who might have a spot and be doing similar interesting work, then move on to somebody else. (This is the way it usually works when you are looking for a advisor in grad school too.) Maybe if you really want to do theory but don't have the prep, try an experimental group this year, theory next.
It's always a good idea between your third and fourth year of undergrad to try to go into an REU (Research Experience for Undergrads) type of program for the summer... and hopefully keep doing an project on campus during the academic terms. Doing an REU off-campus will give you one other professor who directly knows about your research. If you were able to start doing some research in your second year (and have at least 1 semester of on-campus research) even try to get an REU for the summer between the second/third years. If you are going on a five year plan, try to get an REU between the fourth/fifth years. In a lot of competive programs (like the the selection committee I served on, having two summer REU's, plus research experience on your own campus during the academic terms) was a BIG plus, or two projects on your own campus, and one REU... that made for three strong recommendation letters (most school require three letters, some four). But even if the applicant only had research at the home institution, if it was long term/got a lot of results/received awards/published and therefore had strong letters, that was also a strong application. When it comes dwon to it...ANY research experience, even if you are starting late, is good on your application.
Maybe the process doesn't work this way at all institutions, but I'd think ours is similar to a lot of schools that get swamped with applications (we had I think over 800 DOMESTIC applications the last year I served on the committee). So yeah... sometimes there are "cutoff-offs" where the committee wouldn't read your letters if you had a low GPA, GRE on the subject (and just plug in a "0" for the committee rating). Realistically though, if the committee is a STATE instituition or receives FEDERAL funds... the graduate school requires departments to look at all applications and have some type of rating formula/scale in place, in case a student is petitioning for entry after you've closed the doors. This happened in our department because someone's spouse was accepted to another grad program on campus (that program REALLY wanted that spouse to come, so they actually wanted us to accept the student)... but we were able to reply "sorry, our that student was ranked X of Y applications, and we stopped admitting students at Z... which was WAY higher than the student's rank, so realistically, that student probably would have difficulty in our program, so our committee unanimously refuses admittance."
At a certain point, there are a bunch of similar candidates that just get thrown into the pile... that's where the committee reading the letter is SO important (at high-ranked schools, unfortunately those similar candidates all have high GPA's, high GRE's etc)... so I'd say getting good letters is critical... so go looking for that research experience! Don't let research ruin your GPA/GRE/academic performance though... it's all about balance. Be sure when you are looking for a spot to tell the prof what type of weekly hours you'll be able to do (and be realistic). All those numbers get thrown in the formula.
Then like I say about getting into a grad school, getting into a research group is similar... There are techniques that can help you, but even if you don't get in the group you originally wanted, more than likely you'll end up in the one that is right for you. If not, you can always change.
Good luck.