My experience was different with "Waiting in Premium." I joined, but I still had to wait for her to join, I didn't see her cam, and I wasn't charged. I guess she must have left some setting on by accident because she never showed up, and I was never charged.
So now I don't really get what "waiting" means, but I must say that my experience was still way better than what others described, i.e. paying for an off-cam performer.