I, too, was sent the 3/8/11 email from Dr. W informing me that I was "near the top" of the waitlist for the MA. I applied to the PhD (theory track) but I only have two B.A.'s from UNF. I am also, like some of you, a bit apprehensive about what I perceive to be a large number of waitlisters. A few people have uploaded rejection statuses on the survey page, though.
I've been rejected by SUNY Buffalo, Stony Brook, and Columbia for comp lit., Duquesne, DePaul, and Memphis for philosophy, and I'm on Emory comp lit.'s wait list, although I was told I am "not high on the list at all."
I also applied to PSU English but I haven't heard anything. I emailed them a couple weeks ago and was told that a few offers have been made and the rest of the decisions are forthcoming. I expect rejection.