Courtesy of www.aila.org:
As of November 20, 2009, approximately 56,900 H-1B cap-subject petitions have been filed. USCIS has approved sufficient H-1B petitions for aliens with advanced degrees to meet the exemption of 20,000 from the fiscal year 2010 cap. Any H-1B petitions filed on behalf of an alien with an advanced degree will now count toward the general H-1B cap of 65,000. USCIS will continue to accept both cap-subject petitions and advanced degree petitions until a sufficient number of H-1B petitions have been received to reach the statutory limits, taking into account the fact that some of these petitions may be denied, revoked, or withdrawn. As the numbers are close to reaching the limit, members are advised to file their H-1B cap-subject cases as soon as possible. Please see the USCIS website for the latest information on the H-1B cap count.