It partly depends on how many people who were accepted actually enroll. I was waitlisted at my top choice school last year and didn't get in (thank god I had already enrolled someplace else as a safety net). I heard that, because of the economy, practically everyone who was accepted did actually enroll, so nobody on the wait list got in. Fortunately, I did well at the school I went to and can transfer to the other school for the fall. The hardest thing is that you often don't find out if you got in off the wait list until just a couple weeks before school starts. If you get in somewhere else, I'd recommend holding yourself a seat just in case.