Hi sg2015,
Although you did not mention it in your post, did you apply to INSEAD? And if so, when did you apply?
The 'tricky' thing about wait-lists is that Business Schools always keep some 'spots' open in the event that some fantastic applicants show up in the later Rounds. If you have a good application, but not a great one, then you might have to wait some time to actually receive word about whether you've been accepted or not. This does afford you the opportunity to potentially improve the overall strength of your application while you wait (e.g.. by retaking the GMAT and scoring higher and making some note-worthy improvement to another part of your application).
GMAT assassins aren't born, they're made,
Rich