Sportsfan - none of the EB3 dates have even reached 2007 yet, let alone 07/07. CO has months to plan and get additional inventory for EB3. While they don't seem much efficient up there, I doubt they will mess up something this predictable and well in advance. I think something like 4 months before they estimate to reach the demand cliff, they will extend PD beyond 07/07 and get enough inventory to to carry forward as usual. They might even push the dates far beyond 07/07 (say 2009, 2010) so that they get enough inventory to last a couple years.
Update: Based on current inventory and burn rate of the inventory ROW (11.4K) should be the first to show movement along with C (1.4K) and M (1.2K). I and P have enough demand. Hmm... they do not have much time. Assuming a 4-6 months processing time for USCIS and a 250/month burn rate for countries and 2K/month burn rate for ROW, they need to extend PDs beyond 07/07 and accumulate inventory in next few VBs. If they fail to extend PDs in next 3 months then yes, they may reach a situation where its Sept and they need to use all the visas - but they don't have enough documentarily qualified ROW/C/M applicants. If that happens then I can see a horizontal spillover to EB3I (it could go to EB3P as well - but if its not going to ROW then it will go to I since P and I both are over the 7% limit and I has older PDs). Am I correct in assuming that P has reached the 7% limit - I do not recall top of the mind right now.