I got accepted off the waitlist a couple days ago. Cindy told me that someone dropped their acceptance and decided for nursing school instead. Don't lose hope, because anything can happen. Realistically, its going to take a miracle for more seats to open, but that being said, that's what I thought until I was finally accepted...
As far as waitlist ranking, I don't think they rank the waitlist. If a spot opens up, they probably meet and discuss it.
Good luck!