Filing I-485 and I-765 together

[sapyns]

Hello everyone,
I am on a valid F-1 visa. My spouse, who is a permanent resident, filed I-130 for me last November (2011) for family based green card. No decision has yet been made for I-130. Priority date for adjustment of status is not current yet.

We are planning to file I-485, but not sure when to file..after I-130 is approved? or can file now though processing might be done once the date becomes current. I am also planning to file I 765 (work authorization) along with I 485. My wife can apply for citizenship on September, 2013.

My questions to summarize:
1. When can we file I 485? Now (I-130 decision is still pending, priority date not active) or once decision is made? or when my spouse becomes a citizen (might take one more year)?
2. Am I eligible to apply for I 765?
3. Can I file I 765 together with I 485?
4. What are pros and cons of applying I 765 when I am in valid F-1 status?
5. Do I have to maintain my F-1 status once I file I 485?

Need your suggestions. Thanks in advance.

[immihelp]

1. No. You can file I-485 only after I-130 has been approved and your priority date is current. Alternatively, once your spouse becomes US citizen, you can get your petition to be upgraded to Immediate Relative (IR) and then file for I-485.

2. You will be eligible to file I-765 along with I-485.

3. Yes.

4. That will be your step towards getting the green card.

5. No