I reached out every month from 400TT to 1000TT with updates before I was asked to re-apply in November. I was given an interview date of December, then early class date of February, though it was made clear March (three months away) was expected for my hiring class.

Given a basic assumption of hiring enough at each event to fill out a class, if you applied in January you'd hopefully grab a February interview, then hopefully be assigned a May class. Tons of extenuating factors not withstanding, of course.

For your second question, no. Sim time is only usable to substitute for certain certifications/checkrides. When a company asks for your TT, they're looking for your actual flight time. Makes sense to me since they'd be interested in your actual butt-in-seat experience. [but if someone has any other anecdotal evidence, I'd love to know!]