I'm in the same boat that you are. I graduated college in may of 2008 and applied PUBNAT 2 about the same time. It was a huge mistake. I knew that the hiring process was long but had no idea it took this long. I am currently working an hourly job because i think it would be pointless to take a job on, start training, and then say oh yeah i'm out of here in three months. Im just waiting it out on a daily basis. My advice to you would be to apply early.

May-Applied Pubnat 2
July 15th-At-Sat taken (well-qualified)
August 18th-Geograpgical Preferences
September-made referral list
Today-waiting around like the last five months