Solution: Catch Early

Catch early and pull near the surface:

Reach full extension.
Lift your elbow towards the surface and get your hand and forearm vertical under your elbow.
Keep your upper arm and elbow as far forward as possible as you complete your catch.
Then when you have your catch (and only then), begin pulling your arm back, always keeping your elbow above your hand.

Breathe early in the stroke cycle:

As your stroking hand passes your face, roll your face (with your body roll) to the air.
Leave your forward arm extended while you breathe.
Breathe quickly and get your head right back down (eyes down, looking at the bottom).

How did she get to this point? See
Good Catch from the Side.

These shots are from my very favorite freestyle DVD for illustrating efficient freestyle technique: Go Swim Freestyle with Karlyn Pipes-Neilsen.