Apply for I140 and I485 Immediately
Since you have time untill Feb 2004 for 6 years to be completed, you need not worry much about the 7th year extension. Apply for I140 and I485 concurrently and since EAD is taking around 3 -4 months now, you should get the EAD card . You can continue to work on EAD. Untill and Unless you feel really uncomfortable you don't need H1 7th year extension.
Rgds,