Until the gate, there are separate waitlists and looking for different inventory. So it depends on what the Inventory folks do and there is single answer for that.
At the gate waitlisted revenue passengers (hold confirmed seats in a lower cabin) should be processed before up graders (but while better than in the past, agents are not 100% on this).
This will be very similiar to
http://www.flyertalk.com/forum/unite...ns-issues.html