Do I have to do anything to prepare for change of status? (10/1) received the approval notice so do I just sit tight? When do I actually get the visa in my passport?

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You need to look in the mirror and say "god bless America" 3 times. Some folks have reported seeing the ghosts of the founding fathers after doing this but I think that's a myth.

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You'll need a visa only if you leave the country and want to re-enter.

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Your status changes automatically on October 1. You will continue to be in the new status from then onwards. You can be within the US as long as you wish without a visa. You just need to apply for extensions. You only need a visa if you exit the US and want to return. To get a visa in your passport, you need to apply for a consular appointment in one of the US embassies outside of the US.

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Curious about when was your application filed and how much time did it take to process it?

Not OP, but my RFE for a first time application was filed July 31st and was approved yesterday.

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Visa is a stamp required on the passport to enter the US. If you never go outside the US, you would not even need it.

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