Urgent help needed with choice when to file I-140

Hu*****and only has 5 months H1B left (used 5 years 7 months) and currently working on F1 OPT (will expire early Aug 2010), filed PERM mid July 2009, PERM approved in mid March 2010. Now there are two options about when to file I-140 and H1B extension:

Option 1: F1 OPT => 5 month H1B extension starting Aug 2010, then I-140 application. Is it necessary to wait until I-140 approval to apply for H1B extension? Then next step is another H1B extension when H1B expires at the end of 2010.

Option 2: file I-140 first (premium processing), then H1B application (3 years) upon I-140 approval (mainly for the sake of 3-year H1B application if I understand PJiang's blog article correctly)

Now the questions are:
1. Is it possible that F-1 students who file I-140 are considered "fail to maintain their F-1 status" and lose their OPT status?
2. Will H1B visa holders get more chance to have I-140 approved than F-1 visa holders?
3. If I-140 got approved, is there a risk to apply for H1B from F1 OPT status?

Thanks for your time and suggestions.

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