A couple of quick clarifying points for your WL:
* You are considered alongside other applicants in each round.
* You can be admitted, denied or remain on the waitlist through R2, R3 and into the summer.
* If you are WL and DO NOT INTEND to go to Booth (e.g. you got your admit to some other school "up north") take yourself off the list and give someone else a chance at their dream. Don't be an ass and try to collect as many admits as possible. No one will ever care and you won't either in about six months.