Paul -
For travel agents who use the Apollo computer reservation system ("CRS") (it could apply to others, but I only know about Apollo) when they attempt to sell a flight that has 0 availability in a given class, but the waitlist is open (whole different topic re: when the WL is open), the computer will show the status of the flight reservation on the PNR (Passenger Name Record - as I recall it means - used to refer to the individual paper card that reservations were stored on in the days before computers, but I digress).
If that waitlisted flight is on United, Apollo will come back and show it as status PB. This indicates the priority of that PNR on the waitlist. If you have certain FF status w/ UA, they will upgrade that status on the waitlist to PA, and presumably you will clear (if anyone will clear) the inventory management's computer before people trying to get that fare class with priority PB.
I don't know how this works with people booking UA using other systems, such as SABRE. I'm sure others can advise, as well as correct/expand my explanation here.
Greg
[This message has been edited by greg99 (edited 07-13-2000).]