I will address the second question on your description, since I believe the main question is address in another post in this forum.
> Can a PM without significant software development experience expect to be able compete with those who do have experience, when applying for this type of job?
My answer is yes. I think PMing has little to do with development itself. That said, the PM needs to have some kind of general notion on development. That person must understand the basics:
* What compilation means?
* How manage a Configuration Management Plan?
* How to understand metrics?
Now. A great PM goes beyond the development activities. The PM Cares and communicates about the project. A PM with good people skills and great understanding of the PM framework, will go far beyond good PM with technical abilities.
Thanks, Geo