tier 1 help

Hi,
Thanks in-advance for every ones help.
I hold a Uk workpermit and it expires on sept 2012. After that i am eligible for PR.
I want to switch from workpermit to tier 1(general) and i qualify for tier 1(general) on new rules starting from today.

If i apply now for tier 1 i will get visa for 2 yrs. which is from April 2010 to 2012. I might need to extend for another 5 months to qualify for residency.
Not sure how easy to extend tier 1 for another 5 months.

I dont want to wait another 5 months to apply for tier 1, As i am scared that new rules may change during this 5 months waiting time and not sure who will win the election on may 6th.

I am not sure when once applied for tier 1 will i get the approval letter for 6 months duration and then i need to send my passport for stamping during that 6 months period.This option suits me better. Not sure if its still happeninf
OR
There is no approval letter once applied, straight away stamping will go ahead.

All the processing done inside UK.

Thank you,
Imthiyaz

Passport to be sent along with Tier 1 application. If application is approved, passport is stamped with Tier 1 LTR and returned to you along with your documents.

regards

Please don't make multiple posts on the same topic.