F1 visa to H1-b

I just completed my undergraduate degree and my F1 status does not expire till May 2010. My OPT application is in process and still pending with a requested start date of 10th February 2010. However, I have found an employer who is willing to sponsor my H1B visa. So here are my questions. i)Can my employer file for my H1B visa right now, even though I am interim OPT application process? ii) When can I start working and getting paid from my employer? Essentially, I want to start working and I am wondering what is the fastest way to do so.

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ANSWER: 

Since the H-1 quota is over, OPT is your best option as far as I can tell.

Unless the context shows otherwise, all answers here were provided by Rajiv and were compiled and reported by our editorial team from comments and blog on immigration.com

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