If you do have to waitlist, just be aware that there are two different methods: waitlisting for your entire stay or day-by-day.
If you waitlist day-by-day, each day of your trip will be booked individually as it becomes available. This method probably has the best chance for success, but you also have the possibility of NOT getting a single day (or multiple days) in the middle of your stay.
For example, if you want to stay for seven nights and three of them are available when you call, those three will be booked immediately. Then, over the next 7 months, anytime a member cancels a trip that coincides with one of your missing days, that day will be automatically booked in your name (assuming you are the next name on the waitlist).
But, obviously the risk comes into play if you do not get one or more days. If you successfully book Monday to Wednesday and Friday to Sunday, you will either have to move to a preferred view room or even a different resort on Thursday.
On the other hand, you can also go on the waitlist for your entire stay. This "all or nothing" approach means that you won't have to switch rooms or resorts during your stay--but it there is also a reduced likelihood that you will get the ressie at all.
Again, let's assume that three of seven nights are available when you call. If you want to waitlist for the entire stay, NONE of those nights will be booked when you hang up the phone. Your stay will ONLY be reserved if all seven nights come available simultaneously. And,
DVC will not hold the three available nights for you--someone could call 10 minutes later and take those dates, meaning that there is zero availability for your entire stay. Then it becomes a matter of one or more people cancelling reservations that exactly matches your needs (BWV, 2B, Standard View, your dates).
If you want to waitlist for the entire stay, I would recommend that you make a backup reservation elsewhere and cross your fingers that you get your first choice. OKW may be a good alternative if for no other reason than the
point charts are identical to the BWV Standard View.
Good luck.