I agree with jpiccolo - it really depends on the school. I've also been wait listed at 2 schools so far. I went to a grad student panel at a conference recently and someone mentioned that they knew someone who got wait listed at 4 schools, and ended up getting into all of them, so definitely don't give up hope. I would e-mail them and ask if you can figure out which spot you are on the wait list. They might tell you and they might not, but it never hurts to ask. I e-mailed one of my schools and asked, and I was told that I was in the top "quadrant" of the wait list. If they're able to tell you, this might put your mind at ease a bit. Good luck!