Chuck,
Basically it is group therapy. Little or nothing gets done with the wishes. Even sending them probably doesn't make much of a change.
Now, on some level, I can understand receiving many, many ideas at once can be tough to deal with especially when some CAN'T be done for certain reasons. I have given my program, FAP, to one user, and the amount of ideas in three weeks from that one user has been many. When my programmer is moving in a certain direction, it is hard to incorporate all of them. But, even so, they are welcome.
As a programmer, such as Jon, I would think he would look at them, and then write down the ones he thinks would be helpful or the users are clamoring for. And, the key thing would be to at least post what ones he may do.
On the other hand, although, Microsoft is a company which is hundreds, if not thousands of times, larger than AC, they do not incorporate any new ideas for over six years. You can write them all you want (and they will write back many times), but Outlook or Word will not change from 2003 until they come out with 2007.
As to the moderators, it has only been a month since the moderators went from one to four. And, it is certainly impractical to expect Vinny or any of us to moderate the Wish list and direct anyone anywhere although we do contribute quite a bit to the boards.
The advantage to the Wish list as you kind of point out, is that a lot of users will say to you, "Good idea," or "That has been done," or "Go to this thread to see a workaround."
It is frustrating to keep coming up with ideas only to not see them incorporated. Having said that, it is still a good idea to keep the ideas coming. That is what makes our message boards superior to say, Logician's message boards.