If it's an EU Pet Passport it could prevent you from needing to do the PETS scheme in its entirety (I think you have to wait 3 weeks from the time of the passport creation, but that's it). That's assuming you already meet the other requirements (microchip, rabies vaccine, etc.) The pet passport should basically replace the bloodwork/6 month wait/etc, assuming that the rabies vaccination covers the full time period (in this case, through summer 2011).
As for timing, I would think November -> May is fine. My cat was a bit "off" for about a month, but since then he's been his normal (read: generally cute/friendly, sometimes annoyingly whiny) self. Six months should be more than enough time (and given how stressed out he was over 15 hours of plane travel, I don't want to know what he'd have been like with 7 days of boat travel). I know a few people have done/are planning the journey via QM2, though, so someone will probably weigh in.