This will not be effective to any from the Philippines right now. You must still go thru the rest of the processing, and there is a retrogression that will be going into effect. And you will be caught behind it.
If you are in the Philippines and do not already have a US Embassy interview scheduled, you will be caught behind the retrogression.
Save your $1000.
And if you are in the US and going the AOS route, this still will not be beneficial to you at this time...........it does not give immediate approval with the I-485........only the I-140 and that is the first step in the process.
AS long as you get the I-140 and I-485 submitted before the cut-off date, then you will be able to get the EAD, just not the green cared until they are available.
This is actually not new news, went into effect in August, the 28th to be exact. Already several threads on the topic, and that it can also now be used for petitions that were previously submitted...........but again, if from one of the countries that will be involved again, it will not be helpful.
And for those from countries that are not affected, it is not needed as everything will get done much faster for you.