Storm is different. Flex pays could default up to 6 months after release since it went up for order when it was shipping. If someone defaults on a flex pay for Cap inventory will adjust much sooner to shipment.
Ive had items convert on waitlist months later and look used, damaged or "repaired"
Myself and others have had different experiences. I've had "NEW" product look used or damaged (Spider-Woman, my 1st Black costume Storm Ex Head, etc). Every situation has its own nuances. All I'm saying is there's no reason to give up hope unless SS sends an email saying conversions are unlikely and pursue a regular.
Yeah. If it doesn't convert before shipping I'm canceling
Let them do it for you. Don't be hasty. Act too quick and you might miss out. If the last FlexPays are charged after one time payments are shipped, the normal situation, there's still some hope even after shipping. The last thing I wait listed was White Storm and I might have mentioned once that I wait listed right after I wait listed and didn't mention it again. Even when I converted I waited for it to be in hand before posting about my conversion simply because I wanted to avoid other's negativity like "you're getting a return," "it will be damaged," etc. You never know what you'll get until you get it or don't get it but just let it play out.