desperate,confusing, pls help!

My opt expires 12/20/2003, and I'll be laid off
12/19/2003 if my boss can not receive funding
( he is still waiting). And my H-1B1 is just
ratified, begining with 12/21/2003.

1) what's my status if I submit a application
for change of status? F1 before 12/19 and
H-1B1 after 12/19?

2) which is better if I choose to change to F-1
or F-2? my wife is F-1 student. If I can be
admitted by a school, receive a new I-20, should
I re-apply F-1?

3) How long I can stay legally after 12/19?

4) What's the minimum working hour per week for
H-1B1?

Any info or clarification is much appreciated!