should I apply for jobs? I don't want to begin applying to early or too late. How long should I allow for the process?

start applying NOW if you're a professional now. companies like to see people plan ahead, and CY 2010 budget/planning time is imminent for many busineses.
you have time to contact companies twice if you start now; follow-ups can be sent in very early NOV if you haven't accepted anything by then.