i totally agree and when i was working on the application, i went through an experience that put me in that frame of mind. after getting denied from a possible host institution, my first choice affiliation contacted me four or five months after i had sent an email and stated that she was happy to work with me which was quite the surprise.
even if we don't get past the round tomorrow, be proud of the work you've done this far. i know i am. and it's true, getting it all out on paper, putting in the effort helped me to cement what i want to be doing and what i need to be doing in order to get there. don't let one 'no' discourage you from realizing the projects you need to make. there will be a 'yes' soon enough.
also, i'm incredibly fascinated by the projects people are proposing. if you start/have a blog about it, link it someday please!