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3yr hpsp gets sold out pretty quickly for some reason, so you should consider carefully. 3yrs for this year ran out pretty quickly last semester (D1).
I think the application is all the same, so you should contact the local recruiter as soon as possible and start compiling your packet. it doesn't hurt to do it while you have time. be sure to look into all 3 branches. the process can be very long, and it can get overwhelming to do on top of your deadly 1st year.
so i guess if you apply in your 1st semester D1, you have no grades yet, so they'd just look at your DAT, GPA, etc.
hope that helps.
You could apply now for a 4yr, and if you don't get it you will be among the first ones considered for the 3 year HPSP next year.