Berksflyer,
Nah, they don't mind. During my first application back in 2007, I explicitly told them that I would quit university if I was accepted. They didn't seem to mind, I even made it to Stage 2 before being shown the door. Though if they do ask you if you would quit university if accepted, answer them in an eloquent way so they don't have qualms about you quitting the CPP if you get another better offer elsewhere. Capiche?
Don't be in a rush to apply, prepare yourself first. As you may have already noticed, it isn't easy.
Komie77W,
In a couple of weeks or months we will see how re-applicants are processed, since it has been almost a year since they opened the CPP to the world. The first batch of international applicants who were rejected will probably start re-applying soon. I think it is quite probable that people applying again might face a longer wait though, given the volume of fresh applicants flowing in everyday.