People do withdraw after the deadline, but the schools also have no obligation to then move to the waitlist. The year that my DS was admitted to a popular school in a nonexpansion year, we were told in May he would be the only boy joining the class. In September there were 4 more, but they were all kids who had been at the school previously, moved due to a parent's job change, and were now returning to the DC area. I don't think any had applied at the regular time.