I know the frustration, Ace.
Out of the hundreds of applications I made in the past three years, I got called back on about 4 of them, two of them I was totally overqualified for, too. The other two? Underqualified. ARGH!
I had been kind of looking for over 7 years, but, only hardcore as I approached graduation.
But, just like my last job, cold applications weren't what did it for me, it was someone already working with them company that I knew, giving me an in and making sure I got past the HR filters. That's the story most of my colleagues have as well.