H1B Extension via Consular Processing?

[apurvasheth]

H1B stamping on passport expired in 2011. 
I797 valid up to April 2014. 
Can apply for H1B extension on or after Oct 24 2013. 
Leaving for India on Oct 9 2013 for work and then extending my stay for family because haven't visited them in 3 years. 
Have to appear for interview for stamping. 

If employer applies for extension after I return back to USA my visa stamping will only be up to April 2014 (current 797 validity). 

If employer applies for extension in Oct 2013 when I am in India then as per I-129 they have to select consular processing option because I will be outside of USA at the time of application. 

If they do consular processing... 
A. Is it a risky thing to do? How so? 
B. If applied in premium processing then when will I be able to appear for an interview? How many days it takes for the consulate to get records? 

I am not 100% clear on this process. I am inclined for consular processing because of two reasons: 
1. My new stamping will be up to 2017 which I assume will be the validity of the 797. 
2. I think its risky to go apply for via up to 2014 (under current 797) and then enter USA with just few months remaining on visa. Possible POE issues maybe.

[jairichi]

If they do consular processing... 

A. Is it a risky thing to do? How so? Not at all. If your and company's credentials are good there is nothing to worry.

B. If applied in premium processing then when will I be able to appear for an interview? How many days it takes for the consulate to get records? PP would be good. It takes 15 days for USCIS to take a decision. And, if your employer could FedEx the documents it will be quick

I am not 100% clear on this process. I am inclined for consular processing because of two reasons: 

1. My new stamping will be up to 2017 which I assume will be the validity of the 797. 

2. I think its risky to go apply for via up to 2014 (under current 797) and then enter USA with just few months remaining on visa. Possible POE issues maybe.