When to take MCCQE

[AG3]

I'm a U.S medical grad-to-be (in 2011) and want to apply to residency/practice in Canada. As far as MCCQE1 goes, it is being offered in October 2010 and in May 2011. I'm trying to decide whether I should take it in October or in May. Any recommendations?
Also, how long do people normally take time off to study for these exams? For step1 and step 2, people normally take about 3-5 weeks to study, is this necessary for MCCQE?

THANKS!!

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[Giemsa]

Note that you must be a Canadian citizen/ permanent resident to apply for residency in Canada.

As far as practice goes, read up on the "third pathway" in Ontario; this obviates the need for the Canadian exams/Royal College exams.