I was told by the Versant director that they would have another cohort in August. She says she hopes they will be able to accommodate more candidates in August 2011 since in March 2011 they only had 10 openings. I encourage you to apply for USC, but also to keep options open elsewhere since it is so competitive. For winter 2011 they had around 900 applicants and only ten openings. I was able to get to the final round of interviews, but in the end I wasn't offered one of the coveted spots. However, the people are very nice! I'm not sure when the job posting will be up--though for the Winter 2011 cohort they announced early on their website that the application would be available in October 2010. Interviews went through December, and offers were made by January 2011. Just keep your eyes open =). You may also want to set up a Job Agent to alert you as soon as the posting becomes available.
P.S. -- I suggest you ask them ahead of time how many positions are available in the unit of your choice. Some units may not even be hiring new grads, and others have very limited spots (for example, CVTICU had 4 positions, SICU had 1, etc.). This may be something you want to consider to increase your chances of being hired. Hopefully they can give you this information (we all know how confusing HR gets! But if you speak to the nursing recruiters they may be able to give you a better answer). Good luck! :heartbeat