I applied this morning using the cut and paste method. My application is now under review, and I am told by Chase that due to the overwhelming response to the limited time Ink bonus offering, they are now two weeks behind in processing all business card applications. I don't know if that meant all applications or only those that were not immediately approved.
I figured I'd wait to hear if I was actually approved before asking whether I'd be receiving the 50K bonus.
I will report back when I hear.