Mother Goose, congratulations on the pregnancy, certainly an exciting time for you! I think if I were you I would apply in 2008, I think it would make life a bit easier for you.
I'm going to be doing my GNP part time next year, I've managed to talk the coordinator into letting me do it three days a week. I intend to study midwifery part time next year so I didn't want to make life too hard.