I applied on 2/11/07 and just got my decision today. I got waitlisted. You have to mail back a blue form and it specifically states that the waitlist is not ranked. I'm definitely sending my letter back priority mail.
That's weird, when I got waitlisted back in February and there was no form. They only said to contact their office if you wanted to withdraw from the waitlist.
Within the next two weeks you will either be accepted or you will be asked to return a form declaring your interest either to remain on the wait list or to have your name removed.
The wait list you and I received always seemed more like a deferral to me. They are now reviewing all of us on the first wait list again, making offers of admission to some, re-waitlisting others. And now it seems they are also expanding the final wait list by making new offers like that we heard about above.
Hope That Helps