@Chozley I had a son waitlisted at both Pomona College and Vanderbilt, and he regretted getting onto waitlists, as in one case, Vanderbilt rejected him in July and he actually got into Pomona College, off a waitlist, on May 2, but the pressure was enormous to make a decision in three days, and ended up not having time to visit the campus. So only get onto waitlists, if you know you will go to MIT if they call you, otherwise its just wasting more time for you, and others on the waitlist at MIT.
You may want to really think, though do you want a science and engineering, research institution like MIT, that offers outstanding economics, and social sciences , or an LAC with reading and writing as the main component of your education as Pomona College will provide? The sciences are much much stronger
at MIT, and Pomona students cannot take very many math classes over at Harvey Mudd College, Pomona limits that.
At MIT, problem sets still dominate the educational model, although there is a lot of creative thinking that goes into curriculum development at MIT in all areas of study.
As far as Waitlists–
At a small LAC school like Pomona College, how it works is you must keep your cell phone by your side and you will get a cell phone call from Pomona on May 2-30. (if you are near the top of Pomona’s waitlist, no way to know that, they do not reveal the ordering process and its complicated anyway ) If you do not pick up your phone, they go down the list and they do NOT leave a VM for you. So figure out the area code of Claremont CA and be ready. My son got one call, and he tried to call back Pomona, just hitting dial back did not work, so find the proper phone numbers for admissions office for any school that you get onto the waitlist including MIT.
MIT may offer you more time, but if you have not visited, there may be no time to visit, so figure out if its is your first choice before getting onto any waitlist, including MIT.
With multiple waitlists, congratulations, 
but if you have other choices, , be sure to put down money on one school.
Its just agonizing to be waitlisted to multiple schools. My son eventually accepted his offer at Case Western,
and had a very good experience, there. He was very unexpectedly waitlisted at Pomona College, which arguably
was above his verbal stats , but we are guessing, they needed more math/science kids his year.
Waitlists are complicated, and could be ordered up by anything the MIT class is low in, like a student from North Dakota, a student with talent XYZ or a student who seems interested in a major like urban planning, or philosophy that is less popular, or your essays were really strong, and you made the alternate pile. The problem is, you do not know if you are high on any college waitlist or even who might get on there with you.