L1B/L2 to H1/H4 process

[Iamanupam]

I am working for company A in US on L1 since July2012 for client Company B. My wife is here with me on L2. Our i94 is valid till Feb 2014.

My H1 petition was filed by A in 2012 & it was approved in Oct 2012 but We haven't got stamped it till now.

1. Do I need to go back to India for status change from L1B to H1B and wife's L2 to H4, considering petition was filed from India in June2012? Or we can stay here and get the whole process completed here itself?

1a. Whats my status today? L1B or H1B?

2. I am not sure yet if I got i94 for H1B as those documents are with A in India and am still waiting for an update from them. Do I need those documents here, personally with me? (I guess i797with new i94).

3. If I move to h1B, did my wife's status also change to H4 or she can continue on L2 and look for job after getting EAD?

4. How long would it take for getting EAD if I file it today?

5. Client company B will hire me in April 2013 and company A is fine with it (its a conversion from A to B). How long will the whole process take (from H1B stamping to H1B transfer from A to B)?