It was claimed that they will go to the deferred list before the waitlist. However, i think it's possible to be rejected from the deferred list when they review it in March. My guess is that the deferred list is the new waitlist; I think that after last year they planned to waitlist more applicants, but they didn;t want to scare people by putting them on the "waitlist" knowing that last year no one got off that list. Thus, "deferred" was born. (I'm partly kidding.)