L1B to H1B COS and travel to india

My L1B validity : Till May 2013

I got an consultant to sponsor my H1B. 

1. Do I need to apply premium processing here, so that the petition is approved here and go to India for stamping. Will i have any advantages due to this.

2. Not sure whether I can apply H1B with COS. Is there any specific advantages due to this. My consultant is on the assumption that we can apply through COS.

3.If i apply an L1B extension or an new L1B in parallell under the assumption that will get L1 is approved before october 1st . Will there be any problem to my H1 petition because of this.
  1. You don’t need to, but if you do apply under premium you would get to know the results in 15 calendar days. You can then plan to visit India and appear for stamping. If it is not under premium and is still under process and if you leave US, the COS would be considered abandonded and you would still need to get the visa stamped in India.

  2. It can be done with COS as long as you are physically present in US

  3. There won’t be any problem, your status would change to H1 on or after October 1 2013.

Thank You Ankit.