to apply for Tier 1 or wait?

[labarista]

Hello all! Life gets more complicated as we age and travel! I am a Canadian citizen. but I haven't lived in Canada for 10 years. that realization made me feel kind of like i'm letting down my beautiful country! anyway, I lived in the US for many years and have an irrevocable residency card. Currently I'm completing my graduate studies in France, and am considered by the French to be a French resident. I was planning on staying here, but after visiting London and realizing how difficult it is to work here.I want to apply for the Tier 1 Visa.

So my questions.
1. Is it true that they are declining apps b/c of the economy? (I heard rumors)It seems bizarre that they would continue to accept applications and FEES and then just decline people b/c the economy is shrinking.
2. Where do I apply? Can I apply from France since I am a resident here? As long as I apply before my residency expires?
3. However, must of my funds etc are in the US b/c I have a freelance job that pays me there and I transfer funds as needed.does that make a difference?
4. If I have enough points to apply with my Bachelors alone, should I still wait until I can provide the paperwork for my Masters degree b/c of the added points? Once you meet the minimum does it matter how many more you have?
5. Do you think it would be sage to wait for the economy to turn around?

Your info is greatly appreciated.