Palace Chase and Palace Front aren't dead. They are USAF programs covered by AFI 36-3205.
Paragraph 1.1.2 states "The Air Force suspends the Palace Chase program during full moblizations of the ARC."
Table 1.1 will tell you if you are eligible.
The questions you need to ask are:
1) Was there a full moblization of the ARC? I'm not positive, but I don't think the activation was full, but rather a partial one.
2) Will the AFPC folks release you from your career field?
One of the pilots in our squadron was approved for Palace Chase in late 2000, when he joined the reserve squadron flying the same plane.
Your AFSC will drive the results more than anything.
Good Luck.
Yahtz