What is the Tech Jobs Situation in Late 2004?

CareerConfused asks: "Today I came across an ad in the NY Times, put out by Microsoft, Micron, Level 3 (among others) that claimed that the H-1B visa quota for FY2005 has already expired (it claims the quota expired the first day of FY2005, which started just about a month back). OK. On the one hand, we have stories of techies not finding jobs; and on the other, we have stories from businesses which claim that lack of H1s is killing their business, as well as public advocacy (like that ad in NYT). So, what is it? Are we in another boom, with jobs going a-begging and companies requiring more H1s to fill them? How come I haven't noticed this in the form of a fatter paycheck (or an Aeron chair, or a fooseball table in the cubicle)?" What have you experienced in your searches for technology-based jobs? Is it still hard to sell your hard-earned skills or are things looking up? While its one thing to claim that the lack of H1Bs is killing your business because Americans don't want to move to Fort Wayne, Indiana. It's quite another to say that you can't find a job in Silicon Valley. What's needed is an overall view of how tech jobs are doing across the country. What areas are in desperate need of technical skills and what areas are suffering from a shortage of jobs?