Hi Flyertalk community, its newbie aka lowly green member here.
I have tried to redeem a HKG<->KIX Business Class reward for myselfand a companion in Late Sep/Early October, with preferences to leave KIX in the evening.

The agent put me on CX507, 595, 569 on 5th October waitlist and told me likely I will get the seats. At the same time, he told me there are other flights in the morning freely available.

My waitlist expires 3rd April, but a portion of my miles is expiring 31st March, 2015. To avoid mileage expiring, is it true that I must have my booking confirmed by that day? (i.e., my redemption must be completed with confirmed tickets by that day)
If yes, with the experiences from the true CX frequent flyers perspectives - is my chance slim for those 3 flights?

Thanks in advance.