H1B Ext: Now or after recession?

[helpman78]

Friends

My current H1B (I797) is valid till Feb 26, 2010.I have another 2 more years left from my 6 year
If i apply for an H1B extension 6 months prior (which is the earliest i can apply for extension as per the rule); so say, i apply for extension in August 29, 2009.

(I want to apply for extension so early because i currently am on a project and my project would end on Nov 7, 2009; since Nov and Dec for a year is very lean time for new jobs and also taking current economy into consideration i am assuming that i might not be having project in Jan-Feb 2010 time frame when my H1B (I797) validity finishes) so to be on the safe side i am planning to apply for extension when i have project.

My questions are as follows:

1. As an example if i apply for H1B extension on August 29, 2009 (under Premium Processing where i will get some response in 15 days) and if my H1B is denied on Sept 15, 2009 then can i stay and work in US till Feb 26, 2010.

2. If i apply for H1B extension under Premium Processing (by shelling out an extra $1000) would it be a case of paying USICIS to specifically look at my case, scrutinize for deficiencies (since they might think that there is some issue with his case and that is the reason why he is pay more and trying to get it cleared)

3. Is it better to wait for economy to improve (and hopefully with it USCIS would become relaxed to H1B's a little) and then apply for H1B extension in Jan-Feb 2010 time frame (but at that time i stand a chance of not having a project)

Kindly help me with your valuable inputs on our experiences.

[orion]

You can apply for extension only 6 months prior to the expiration of your current I797. Premium processing is only to expedite the processing and decision (may be approval or denial) - the process of evaluating the application remains the same.

Other questions are irrelevant.

[san3297]

I too was in the same ship about a month back.I thought of many times and applied in Premium Processing.I sent all the docs including Client Letter,last 6 months of Paystubs, last 2 Years W2, My Current Place Time sheets..My applicaiton was received on Jul 7 and to my surprise i got my approval email on Jul 15.I was thinking i would get a definite RFE if i apply in Premium Prcoessing as that is the assumption and i had no chance then taking a chance.But everything worked fine for me......Now a days regular processing is talking about 3 months time.I have some of my friends who filled in May and are still waiting.