What I wanted to say....
Where I stand is on a stack of rejection letters from schools whose programs I spent the last 3 years of my life pursuing, and I have just been told by the one program I really believed I would be accepted by that I have been waitlisted.
I stand in a position of knowing that if my remaining 3 (2?) programs reject me and by magic I am accepted into your program, that I will forever know that I was not your first or even second choice when it came down to the wire. I will always wonder why I wasn't good enough, and I will always know that I wasn't the grad student you really wanted and believed could succeed.
Where I stand is wondering what my next step in life is. I did everything I was told to do, I did it well, and now I sit here suppressing the urge to act like a spurned lover and beg you to tell me what they have that I don't have.
I stand wondering what the fuck I'm supposed to do with a 4yr degree in psychology that will pay the bills that isn't goddamn sales. I walked away from a management opportunity with a great company because I was in school and that was more important to me. I'm tired of throwing all of my weight and effort into pushing against what turns out to be a concrete wall.
So you can see why I waited to respond. What I ended up saying was something along the lines of "this is disappointing news, blah blah blah, no other offers right now, blah blah blah, I will let you know if anything changes, blah blah blah."