How many players can be pending for a game?

Currently, when a game has open slots, players can apply to it or be invited. Once the number of invited plus applied players equals the number of open slots, the system should stop allowing you to apply or invite (this is currently buggy, but relates here before I fix). I did it this way so the system would basically be first come/first serve with the GM being able to have control over who gets in. Also, this way a person with a 4 person game wouldn't have to deal with 40 waiting players if that were the case.

As I'm thinking about it, I'm not sure if the system is idea, and I'd like feedback. I'm considering a few scenarios:

1) Keeping as is. It means GMs don't have to deal with too much at once, and first come, first serve is the fairest method here I think.
2) Allow more than the number of slots, by a certain amount (something like slots x2 or slots + 2, whatever).
3) Allow any number of players to apply.

Thoughts? Other options?

Maybe you could allow two settings for the games when a GM is setting one up; number of players and a number for those waiting. When both of those are filled then no longer allow players to enter the games. By allowing the GM to set the second number they can determine the amount of extra admin stuff they have to deal with.

I'm not a fan of adding extra administration. Right now, specially with the number of people on the site, I'm leaning to removing the limitation, and if someone doesn't want more applications, they can close the game.

That seems completely reasonable. I'd be hesitant to close applications until the number of invited/accepted players meant the game was full.

Yes, I support the idea of removing the restriction, so that the DM can pick and choose between applicants in the event that there are more applicants than player slots. Then the GM can close the game when she doesn't want further applications...and reopen it if she does want more (players drop out, she wants to raise the number of slots, etc).