waive it, that shows adcoms that you were "good" enough that you can trust your prof. to send in a good one.
However, alot of professors will allow u to read a draft. (hint hint)
i had my LOR from an actual professor who graduated from NYU in `67 (alot of campus professors are not ACTUAL/full professors), one associate professor who i did research with. and one MD/PHD wrote me an EXCELLENT lor with whom i took 2 grad courses and biochem. 🙂
what you can also do if your unsure how the writer will write his letter is to get a few letters from diff/iffy profs, and then have an pre-health comm. type up a joined letter with everyones strong point and sign it. in that way your ensuring its the best parts of u while still keeping it waived.
hope that helps?
this should be a no-brainer, but make sure you have somewhat of a relationship with the writer, otherwise you'll get a generic template with your name put on it thats been used before by X number of students.