Just checked my email times, as I only applied last week, it was 25 minutes after I sent my response to their query that I got the approval through
Like you, my software side is also very new, having only begun to develop it from the start of the year, but I don't think they are too concerned, after all, the program is designed to help developers get their business off the ground.
Being registered certainly has benefits in the software side of things, and a few other discounts on courses and hosting. I have not needed to test out the technical help side of things yet, so will be interesting to see how that goes.
I design web applications & sites, so getting a full copy of Expression Studio 3 was a bonus.
Overall I think it will be very handy having the subscription for the enxt three years. Best of luck in getting accepted.