We just learned another way you can get screwed by the new system, returning from Chile on F/C reward tickets, confirmed in coach, waitlisted for F/C for the last segment.
It seems that the waitlist needs to be cleared by human intervention, and the system ignores all reward tickets.
Passengers were given elite upgrades from the standby list, but Mr. and Mrs. Old Gold got to stay cozy in the back.
Got really COOL frozen chicken sandwiches too! My complements to the Chef.