They do, but it seems as though this year, we're not seeing many posts reporting waitlist success. I think more members (and renters) have caught on to the great time December is to visit WDW, plus more than a few have decided to fit in a last minute trip to catch the Lights. (This is the last year for the Osborne Lights at DHS). In addition, MS moved a lot of guests out of the VWL and that may have soaked up quite a bit of space.
I have been waiting for several months for a one-night waitlist to come through at the Poly for early Decermber. I've almost given up hope - but am waiting to see if the 30-31 day mark has any effect. Sometimes, if their plans aren't firm, members will cancel 31 -32 days prior to arrival to avoid the holding account.
So keep looking - and don't just depend on the waitlist process. Check yourself as often as you can. You might get lucky!
Hope you find something!