Does the minimum class size have any effect on registration? Does it create a waitlist until the class roster passes the minimum?

The "Minimum Class Size" field is mainly for you to keep track of the number students needed to make your class financially viable, it does not have any effect on registration nor does it create a waitlist until the number of registrations passes the minimum. The waitlist is created only when the "Maximum Number of Seats to Sell" has been reached.