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I passed level I in December 2010 and gave level II in June. I started studying for level II in Feb and I think that its quite manageable. Since I was NOT working I had enough time to completely cover the entire material (Schweser except ethics) thrice and do 4-5 mocks too. I don't think having more time would have made too much of a difference since I feel good about my chances of passing the exam.

Giving the exam within a gap of 6 months actually helps a lot since you don't have to go back to revise the level I concepts. Level II builds on level I and this year there were a few topics in FRA which were reprinted from the level I curriculum and there are lots of other topics that have a few parts that are from level I or heavily built on the level I curriculum.

I hope this helps you in making your decision.

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