> What do I need for filing an NIW application?
There is a long thread for 'do it yourself NIW' somewhere on this BB.
> How much time will it take?
3-18 months. Apparently some of NIW's for primary care get approved in record time, others just sit in the stack with all the other EB2 applications.
> Should I go for 140+485.
With the new method, that some concurrent cases get approved at the time the I140 is up for adjudication, this might be a good idea.
> Can I file 140+485 again when LC is approved?
Yes you can. I was at the St Albans, VT processing center for exactly that reason yesterday. My wife had a NIW pending for 15months and nothing happened. In the meantime she had gotten a labor cert and pending I140 in another state and another regional center. They pulled the file and told us that they would adjudicate the NIW the same day. When I came home, I had the emails. The I140NIW had in fact been approved hours after we left the office and the I485 was transferred to the processing center which has jurisdiction over the new job location.
While we were waiting, a research type guy was trying to find out information on his pending EB1EA case. He wanted to know, whether his new employer could file a EB1OR for him and how to get the new case linked to the old one. They told him that until the first I140 is not adjudicated, the concurrently filed I485 cannot be linked to another pending I140. (this is what they told us 1 hour earlier). They advised him that he can file another I485 without fear of any problems. quote: 'but why would you want to waste $255 in filing fees'. These people are friendly, but they have no idea about the agony we go through.
In your particular case:
You might want to file an NIW and keep waiting. If you still have your valid H1b, you can then decide whether you file the I485/EAD or whether you can get a 7th year extension based on the pending LC. Filing the I485 based on the NIW earlier would have the advantage of beeing able to go for AOS earlier.
(although the INS girls thought I was my wifes lawyer yesterday, I am not. I know way more about immigration law than I ever cared for but I am surely no expert. Talk to a good immigration attorney, one of the companies specializing in our profession. It is worth the money.)