There's another possible scenario:
If CBSA is made aware of your overstay, and they are also aware of the Inland application...they can request CIC to expedite the processing of the application to reach AIP (Approval in Principle) within 60 days. If CIC complies, and the AIP is given, it eliminates the risk of being removed...AND, you have AIP a lot sooner than most inland applicants (which doesn't go over very well with most of them that still have legal status).
There were a few members here recently that were out of status and CBSA made this request; they were approved for PR (completed the entire process) in ~ a year.
https://docs.google.com/spreadsheet/lv?key=0ArK2RVjQ5v59dFlqaGRPN3JxaGY4Nk9ucTZxV1Z0NEE&usp=shar
(see those on the spreadsheet highlighted in this color font)
If CBSA is made aware of your overstay, and they are also aware of the Inland application...they can request CIC to expedite the processing of the application to reach AIP (Approval in Principle) within 60 days. If CIC complies, and the AIP is given, it eliminates the risk of being removed...AND, you have AIP a lot sooner than most inland applicants (which doesn't go over very well with most of them that still have legal status).
There were a few members here recently that were out of status and CBSA made this request; they were approved for PR (completed the entire process) in ~ a year.
https://docs.google.com/spreadsheet/lv?key=0ArK2RVjQ5v59dFlqaGRPN3JxaGY4Nk9ucTZxV1Z0NEE&usp=shar
(see those on the spreadsheet highlighted in this color font)