IMHO, you are not circumventing any rules.
You are canceling and rebooting just like if someone cancels a reservation and someone else books it before the wait list process runs.
You are just doing so quicker than letting the reservation hit the online screen. There is the possibility that from the time you cancel and before the reservation is booked by MS someone online looking for that reservation could grab it or part of it.
My process is not a guarantee that it will work, just a faster process.