Student visa to a Worker visa

Hello! I thought I'd throw this out there just in case someone had gone through a similar situation.

I am currently on a Student visa (573) and have been in postgraduate school since March 08(about 6 months now). I will complete the program at the end of October 08, and would like to now find work here. My visa is valid until May 09, but I would only be able to work a maximum of 20 hrs a week on a student visa.

There seems to be many more options for students whose program is 2 years (mine is only 1). I guess my question is, do I just go ahead and apply for for the Independent Worker visa (unless I'm lucky enough to find an employer who will sponsor me)? How long does this sort of process take, does anyone have any ideas? I want to try and sort this out before I need to leave Oz (I don't really want to move all the way back to Vancouver, and then have to move right back again!)

Thanks so much for your advice/guidance.