when shall I apply for H1B

Hi, there,

I got a job last year. I am using my OPT now and OPT ends this Oct. I have a PhD degree. I have some questions about H1B application. When shall I apply for H1B? Shall I apply for the 65,000 H1B quota (2007) or shall I wait to apply for the 20,000 H1B quota for advanced degree holders (2007). It seems that I can get H1B sooner if I chose option 2. However, shall I wait and when will the 20,000 quota H1B applicaiton start?

Thanks in advance,