Thanks for this post, OP!! I am waitlisted at my first choice for PhD and I am really hoping that it will work out in a positive way. One of my current professors got her PhD at Yale, and when I told her that I was waitlisted she said, "That's excellent." which threw me off quite a bit, because it feels like such a failure to me, but when she explained that they are only waitlisting people who they want to work with and that getting waitlisted at this level actually is an accomplishment that I should be proud about, it made me feel much better. Three more weeks+ of limbo is nervewracking---but hopefully we will all have good results from it!
Good luck, everyone!!