So you're actually not on the "upgrade" waitlist, you're on the waitlist for "saver award business class". Big difference, as you're looking for XC inventory to clear as opposed to NC. They are completely separate waitlists, so you could have everyone on the NC waitlist clear for uprgades (incl people with lower status) while they never release any seats on the XC waitlist.

I believe, and people here can correct me if I'm wrong, that once at the airport it all becomes one big waitlist and you would be at the top of the list behind UGS.