Originally Posted by JJeffrey

Yes, if there are still 2 seats left and you're at the top of the list then you'll get the upgrade whenever AA decides to release the space.

Keep in mind that the waitlist is sorted by status then rolling EQD, so if you don't have any status then you will be below any other pax with status. This is based off your status, not the status of the person that is giving you the SWU. On a flight like LHR-ORD, I'd say it's highly unlikely that you would be at the top (i.e. no other pax with status on the waitlist) but you never know.

AA47 on Friday 8/9 looks about the same, J2, only 2 seats left for sale in business.