There has been no update since the 9th April 2009 news release by USCIS indicating whether H1B cap limits have been reached for FY 2010 yet or not.
As per 9th April notification, about 42000 applications have been received. So it appears, the cap limits haven’t been reached yet, even after almost 19 days in April.
Last two years (in 2007(H1B2008) and 2008(H1B 2009)) quota has been reached on day 1 itself. This is quite expected. As I said earlier, I would be surprised even if the cap limits are reached. If any firm is planning to apply, they would have applied on day 1 itself knowing what happened in the last two years. If they hadn’t applied yet, most probably they won’t.
May be once Economy picks up or knowing the news that this year it won’t be a lottery, some firms may still look at H1B option. But otherwise, I guess, this is it.