If you mailed your packet before the cut-off, normally they will fulfill the order. Might take a long time as they get closer to selling out, but they usually do. The lead time is so long, you never know what might happen- it's possible they could offer an upgrade later. Wouldn't count on it, but possible.
Currently, there are only the 'Expert' and 'Special Rack' grades available. The scuttlebutt is that many of the Philippine returns had rough stocks and that there were quite a few rough barrels, thus two offerings for M1's with new barrels and new wood. While not particularly attractive to the snooty collector crowd, these are perfect for someone who actually wants to shoot.
That's awesome- would be interesting to hear an excerpt or two when you have the time. My grandfather was in the Philippines for a long haul then spent a little time in occupied Japan. He told me how he was issued a BAR and promptly turned it in for a M1.