H1 To H4 To H1

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Hi
I have completed my H1B 6 years in Oct 2008 and since my labor application was filed only in Aug 2008 I was not eligible for a 7th year H1 extension . Consequently , I had to come on an H4 (My wife and I work for different employers and my wife is currently on H1) . To get H4 done , I went to India and got H4 stamped on my passport and have been on H4 ever since.

Since my labor has been filed on August 2008 and is expected to be approved anytime soon now

A) Can I file for an I-140 while I am still on H4 , after , of course , my labor is approved. If yes , My last paystub will be from Oct. 08 . Is that fine ?

B) After my labor is approved and I 140 is filed can I change my status back from H4 to H1 and get a one year extension ? Will this be just a simple Change of Status (COS) situation or will I have to leave the country and get a new H1 Stamped on my passport ? What will be the exact mechanics of getting back to H1 from H4 ?

Gurus - Please Help !
Thanks and appreciate your time !
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