Thanks. That is my understanding, too. I can't see how the second round success rate would be too different from one year to the next. Do you happen to know, though, if the criteria change in any way? I believe the first round is reviewers only from your field, whereas the second is an interdisciplinary panel. And I guess that letters of recommendation are perhaps more important in the second round (where all proposals are supposed to be generally strong already) than in the first, as a way of filtering good from excellent candidates. Any thoughts? Thanks!