As everyone has said, speaking with a recruiter is an excellent step.
I also truly believe, especially under the current process, there's nothing wrong with applying to see what happens. You can upload updates as you get more experience, and if you don't make it through, you can talk to the Placement Officer about specifics that you might need to be more competitive, then pretty much reapply immediately. For MOST people, it now seems like it'll take a couple times through to get selected...(completely based off anecdotal evidence, nothing even remotely scientific about that statement)
As Shawn said, flexibility can help, and it never hurts to put 'Any country' as your third choice when you apply (assuming you really are ok going anywhere).