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dcmba
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You get interviewed early.

The 40 people interviewed on the last day may pwn you, and be the future Wharton superstars.

So you have to wait.

Consider that you would be a darn sight worse off if you were sat waiting for an i/view. At least you know you are in the game.
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Does Chicago GSB work the same way?
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dcmba
Does Chicago GSB work the same way?


Not sure what you mean by "same way". GSB dishes out interview invites through a certain date. Past that date, sans interview, you are rejected. You get this notifcation on that date (I believe this round thats Feb 20). Then you sit and wait until decision day, with a handful of people finding out one or two days before the decision date. Your interview date has no bearing whatsoever on how quickly you find out. Everyone finds out at the same time.
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I believe the processes at Wharton and Chicago are identical. This is not a surprise because the current director of admissions at Chicago just left the same post at Wharton.

In fact, even the emails seem to have been created from the same boilerplate.