I got the "hold for interview" letter from Penn State in Nov. '99...
...I'm still holding!
This is my second year applying and in my experience a "hold" or "wait-list" = a rejection waiting to happen. I know three people who came off the wait-list at Uof R in June, July, and one in August, the week before classes started! My pessimism shines through, but for me, I place no weight on the wait list (pun intended).