Why would I ever get on a waiting list for a table that is over 10 people long. Aren't I getting on the waiting list to play with the players currently at the table, and wouldn't other regs be doing the same thing, so most of the people before me would be getting on this table and then it would be all regulars at the table.

It's just because I see (especially on Sundays) many tables with waiting lists of over 10 at $50NL and also lists of over 20.