Good advice from drugmonkey.
The takeaway message for less NIH-experienced applicants is that the PO doesn't know everything. I'm not saying they are never helpful....they are. Occasionally very helpful. Difference between funded and not-funded helpful. So I fully endorse the usual advice to talk to your POs early and often.
Do not take the PO word for gospel, however. Take it under advisement and integrate it with all of your other sources of information to try to decide how to advance your funding strategy.