Well Blizzard has finally shown some improvement in how they are handling the server issues. For one thing, they have given all players an extension of 3 days (at least according to my account page, but I can't find the announcement anymore) to their current subscriptions.
It also appears that they found that the programming code that handled the sailing ship that took people from Menethil Bay to the elven lands had a serious memory leak, so they have Non-Player Characters (NPCs) at each end that are teleporting people.
Queues still exist for Silverhand during peak times, but they are much smaller now. Less than 50 people in queue as opposed to over 400.
Will keep the blog up to date as things get better or worse.