I've certainly never understood the idea of some clubs actually reducing dues of the retired guys.
And waiting lists pretty much don't exist at clubs in my area, there are too many clubs chasing too few members. We do generally have an under-30 dues structure that gives a break to the youngest members/families although I'm not positive my club does that (I was way, way over 30 when I joined).
The big "schism" at my club is between the golfers and the members who are in it for the entire social gamut (including golf). The latter seem to feel that the golfers like myself who never show up to dances or parties or Friday night shindigs are leaching off the "real members". Those real members like to brag about their $1,300 bill at the end of a big month when they brought their wife to events at the clubhouse a couple times a week plus closed down the clubhouse bar after golf a few times.