A Phase II Study Of The Farnesyltransferase Inhibitor ZANESTRA (R115777, NSC #702818, IND #58,359) In Complete Remission Following Induction And/Or Consolidation Chemotherapy In Adults With Poor-Risk Acute Myelogenous Leukemia (AML) And High-Risk Myelodysplasia (MDS)

Inclusion Criteria: * Pathological Confirmation of the Diagnosis of AML, MDS * PMNs \>= 1,000/ul * Platelets \>= 30,000/ul * Hematocrit \>= 27% and/or Hemoglobin \>= 9 gm/dl unsupported * ECOG Performance Status 0-2 * Patients must be able to give informed consent * Female patients of childbearing age must have negative pregnancy test * AST, ALT and Alkaline Phosphatase =\<2.5 x normal * Bilirubin =\< 1.5 x normal * Serum Creatinine =\< 2.0 mg/dl or Creatinine Clearance \>= 40 ml/min * Left Ventricular Ejection Fraction \>= 25% * Patients with poor-risk AML or high-risk MDS who have completed both induction and consolidation chemotherapy; poor risk AML is defined by one or more of the following characteristics: * Antecedent Hematologic Disorder * AML Arising from MDS * Therapy-related AML * Age \>= 60 (in absence of favorable cytogenetics) * Adverse Cytogenetics (i.e., -5/5q, -7/7q, +8, 20q-, 11q23 abnormalities, complex karyotype; other abnormalities may be considered at discression of study chair) * Hyperleukocytosis at diagnosis (Blasts \>= 30,000/mm\^3 at diagnosis in absence of favorable cytogenetics) High Risk MDS is defined by one or more of the following characteristics: * RAEB and RAEB-t, with IPSS Score \>= 1.5 (adverse cytogenetics, \> 10% marrow blasts, cytopenias in at least 2 lineages): See Appendix E (Greenberg, et al. Blood 89:2079-2088,1997)36 * CMML with \> 5% marrow blasts * Therapy-related MDS Exclusion Criteria: * Any previous treatment with ZARNESTRA * Ongoing participation in any Phase II or III clinical trial where DFS and OS are primary endpoints (unless patient is withdrawn from that trial) * Acute promyelocytic (FAB M3) subtype * Presence of (8;21) translocation or inversion 16 genotype as sole abnormality * Eligible for curative allogeneic stem cell transplantation * Known allergy to imidazole drugs (e.g., ketoconazole, miconazole) * Presence of Residual AML (\> 5% marrow blasts) or MDS, as Determined by Morphology, Flow Cytometry, and/or Cytogenetics * Active, Uncontrolled Infection * Disseminated Intravascular Coagulation * Active CNS Leukemia * Concomitant Chemotherapy, Radiation Therapy or Immunotherapy * Women who are pregnant or lactating will not be eligible for this trial, as the investigational agent may be harmful to the developing fetus or nursing infant