Palla Ghare,
Thanks for informative thread.

Please suggest the possible consequenses assuming the followings are my situation:
1) Graduated in may 20, 2007
2) OPT started from june 12. 2007
3) My student visa is valid until August, 2008
4) Currently working and company will sponsor H1 B under master's quota in April 1,2008
5) I dont want to go back to school, nor for GMAT/GRE classes.
6) No problem going to Nepal during GAP period.

So my questions are:
1) Is my OPT valid until August 12 (including GRACE time) or I have already consumed part of grace time since I graduated in May 20, In other words, I graduated in May 20 and start date in OPT is June 12. I had heard OPT countdown begins right from the day you graduated.

2) Will I have problem since my passport visa(F1) is going to get over by first week of august, 2008? I know I am no longer student, so there is no importance of visa stamped in my passport, but still...

3) What are the risk factors getting H1 B visa stamped in Nepal while returning back to US to get back to work in oct 1? Is it equally risky as student visa?

I will shoot more questions after you answer these.

Thanks