Good news! They just extended the dealing for signing up for ISE7 to December 8th: http://ise7.blogspot.com/
I participated in the last one and I thought it was so much fun. I'm in the US, knit for someone in Australia and got a package from the UK!
They normally only accept 200 people but haven't hit that yet (probably due to Christmas knitting). Your package needs to be in the mail by Feb 26th so there's plenty of time for knitting without interfering with the holidays.
Just thought I'd share the love . . .