Not all schools will tell you where you are on the waitlist. Some won't even give you generalized categories. I can only speak to what I know though. So, last year, I was...
* Waitlisted at ATSU-SOMA. Got the acceptance phone call one week later. The phone call actually came before my waitlist letter arrived.
* Waitlisted at Touro-NV. I believe they don't do any waitlist moving until after the acceptance period is over. At that time, they will let you know generally where you stand on the waitlist. (Top 1/3rd, middle 1/3rd, bottom 1/3rd.) I received an e-mail telling me I was in the Top 1/3rd, and then on the same day received my acceptance phone call.
* High-Waitlisted at Western, very late in the acceptance cycle. Received an acceptance letter, telling me it was first-come, first-serve (essentially.) Something like 7 spots available for 20+ people. Everyone's impression was that at that point, with the 7 spots remaining, they sent these letters to all the remaining high-waitlisters.
With that in mind, I would say that being high-waitlisted gives you a good chance of being accepted. Some people think it's "You would have been accepted, if..."(fill in the reason here.) It's good news...it's certainly better than a rejection, even though it's more prolonged. 😉