I'm looking for advice and feedback on my options for a situation I have.
Quick Background:
I'm an American currently residing in Singapore on an EP P1. I've been here since July 2011. Base salary is a bit over 9200/month, not including ~40% annual bonuses. I work in a niche IT specialty for a "very famous" financial MNC. (you can see I've used the search

My former employer in the states (another "very famous" MNC) approached me about a position in Singapore. It would be a 30-40% raise on base, so of course I'm interested.
My questions arise from having an EP/DPs, and the best way to proceed if I were to accept an offer. I've identify two potential routes, and this is where I hope the forum can provide feedback on both:
1) Apply ASAP for a PEP. I've read MOM's page on the PEP:
http://www.mom.gov.sg/foreign-manpower/ ... fault.aspx
By their page, I easily seem to qualify. However, this doesn't necessarily translate into the "news on the ground", so I don't know if I would easily qualify now.
2) Allow the new company to apply for a new EP P1 pass, following the timeline outlined in the second post of this thread:
http://forum.singaporeexpats.com/ftopic80772.html
If I were to first go the PEP route, is there an average timeline for approval on those? Or at least, is it closer to the 48 hour turn around I got on my P1, or would it be closer to these multi-month or year PR applications I see threads on?
If the PEP is applied for and not approved in time, or even denied, would it likely negatively impact future applications with MOM for the new EP?
I've realized via search thats hard to answer, but I'm hoping some of the HR people on here might have anecdotal experiences in this.
I notice on my IC that my job title doesn't exactly match what it really is. I realize actually have no idea what my EP/DP applications look like, since the firm my company uses for visas gave me a very generic application to fill out for these. Should I request a copy of exactly what was submitted to MOM, or would very minor discrepancies not cause an issue?
Lastly, in my situation, which option would you choose?