When I applied OPT, I already finished almost everything except thesis writing and defense. The school extended my I-20 from Dec 11, 2009 to Dec 11, 2010, but since I was changed PhD program to Master program, my I-20 was shortened to Dec 11, 2009 because I can not use PhD 's OPT when I only can get Master degree.
-Then, your F1 status may have a problem. You need to talk to your school that whether they can reinstate your F1 in SEVIS because you have the OPT (you may consider this OPT as Master's OPT). If no, you may leave US before Dec. 11 and you may still be subjected to 3 years bar. Also do you have a job using this OPT EAD?
You should have paid attention to this issue earlier. Your wife should have use premium processing for the H1 petition to know the result earlier.