I've been on the AP wait list since about 2002 - been so long I can't even remember!
With the AP140 wait list, I've read somewhere that the wait list is approximately 1 year for every day after they created the wait list for it. So if you signed up on the day it was announced, you would get it in the first year, but if you signed up 3 days after it was announced you might have a 3 year wait! This is only an approximation though, so take my word with a grain of salt