When you click on the item, you get a message saying something like someone may have purchased. But you don't get the email.
I wouldn't trust them sending an email either because they can still cancel. I only do wishlist as extra gifts, not for the main payment. My list is a generic one that gets shared between more than punters so there are high end and cheap stuff on there.
If you are doing this through Twitter be weary, there are lots of very pushy guys who have their locations in the USA.