I was just admitted from the wait list (r2). I should have submitted a letter of continued interest and/or retaken the GMAT, but I got into tepper with $60k and quickly felt discouraged with the idea of paying near sticker price for ANY program. 2 years of foregone income is a high enough opportunity cost for me, much less with $120k in student loans. Unfortunately, I highly doubt K-F will match the scholarship offer I got if they weren't sure I'd be a good fit for the program two months ago.
So if you're on the waitlist and K-F is your first choice, don't lose hope. My spot will almost certainly open up, as will others.