I am also on the wait list. I sent an email asking these same questions, and here are the answers I got: There are approximately 10 people on the wait list, and it is not ranked. They will admit people from it based on what field you study (if a medievalist decides not to attend, the will admit a different one). I do contemporary postcolonial fiction -- what about you? I am really crossing my fingers for Chicago because it is my top choice, but we'll see. Good luck!