Potential gap in 8th year H1B, I140 approved.

[aguy]

Hi,

I am on the 8th year of my H1B. I have an approved I140. There is a chance that I may have to leave my current job, and there will be a gap before I obtain another job. Two questions:

1. Can I stay in the US just on an approved I140 and no H1B?
2. I know I can get my H1b transferred. Can I instead leave my current job, be on I140 for some time, and apply for a new H1B for the new job, still continuing the 8th year?

Thanks.