Applying for both - l1 extension and new h1

[anupi]

Hi,
i am here on L1B expiring on 07-Jun-2013. My current company has given me this option. Wanted to confirm if this works
1. Apply for H1B consular processing on 1st April 2013
2. Apply for L1B extension end of April or 1/2 week of May in normal processing (not premium)
Continue to stay beyond 7th June based on fact that L1B extension is under processing.
Scenario 1: Both L1B and H1B get approved. Go back to India and come back 1st October after H1B stamping in India
Scenario 2: H1B is approved and L1B extension rejected in say July/August. Go back to India and enter on 1st October after H1B stamping in India

Reason for extending l1- so i can reduce the period outside US(june-oct)

Does my H1B get affected if my L1B gets rejected/approved ?
Can my L1B be changed to premium if it hasn't been adjudicated beyond say aug/sep so that i can go to india, stamp and come back on h1?