Good luck to those applying this cycle for UW-Madison.
As someone who applied to the school last cycle, WI sticks to a pretty tight overall schedule. Prior to my cycle, the previous cycles went through about 3-4 cycles of admits. One wave was looked at in December, accepted early to mid-January, the second batch accepted late January and then another set in February. I know of many people, myself included, who went through multiple updates so multiple updates doesn't necessarily mean anything. I know that I went through two updates (one early December, then another in January). I didn't hear about my rejection until March.
UW looks very closely at ties to the state of WI and has a limit of in-state students that they are required to meet. They don't generally offer scholarships so if you are looking to negotiate, don't even think you can try to do that. I mean, give it a go if you want to, but make sure that you have a solid comparison to use and a reason for bringing up that comparison.
Realistically speaking, do not consider WI unless you first want to live in the WI area. Will someone have access to the Midwest? Sure. But don't go thinking that you will. Don't think lateral over to Chicago is a given. It's not. And if you're out of state, I don't think the debt ratio is worth the risk. UW is a solid school, but understand that the other school in the state (Marquette) gets as much big law clout as UW. It's one of those rare states where the two law schools in the state have a solid reputation and are considered peer campuses within the state.
If you really do want to go there, write a LOCI and be specific. They love people passionate about their school for a particular reason. However, seriously consider the debt burden because WI isn't a hotbed for big law. It will offer you access to a reasonable COA, solid athletic program and access to all four seasons. Fall in love with the snow. You'll need to.
The best advice is just to wait it out because UW-Madison seemed to have a more systematic approach to reviewing apps. Good luck!!!