I agree with flydog, put in your app and update frequently. But I wouldn't expect a call until you have alot more than the "min" quals, and right now about 3 letters of rec from fedex pilots you have flown with. It is hard to get a call these days because FedEx has so many qualified+ applicants, they are using the # of recs you have to lower the # of apps they have to sort through. Of course, when the pax carriers start hiring like mad again, the # of recs required will go down.
I also think FedEx puts some merit on the Air, Inc conferences. Probably not a factor now, but in the future, when everyone is hiring, and FedEx starts attending those conferences, I think that is a way to get your app to the top. The only reason I ever got called is because I handed Bev Hyter my resume at one. She is the one who decides who gets an interview.
Good Luck.