According to the USCIS, as of May 25, 2012, the agency has received 48,400 out of 65,000 available cap-subject H-1B petitions for FY-2013 and 17,500 out of 20,000 available petitions under the H-1B Masters Cap Exemption.
We predict that the quota will be exhausted within the next two weeks and possibly earlier. Our firm has seen a spike in demand for H-1Bs this year and the number of filings indicates that this is a national trend. Given that LCAs require a week to be certified, there is realistically about another week or so to start work on a cap-subject H-1B petition with a decent chance that it will be receipted by the USCIS. Cases received by the Service Centers after the cap has been exhausted will be rejected and returned to the petitioner or attorney of record.
I will continue to update with the latest cap counts as they become available.