I believe there will be an Aug20th class date. Unless things have changed in the last month, they will keep having 2 classes a month (is what Chuck told us). Sounds like you would get the Q, I think any previous 121 would get the Q also. I believe they would put the 1,000-1,500 hour people in the saab.
5 on 2 off schedule for reserve probably won't allow you to commute, possibly when you get a 4 on 3 off line schedule? I don't know much about commuting, but it seems that IAD and EWR would be relatively decent to commute to/from compared to an outstation or smaller airport.
Good luck on the interview!