Dear Mr Pravin Kapadia
Plz do not mind my words, I was not intended to hurt you. I was just trying to convey the thing if you try with certain logics of smart bookings you will be able to book confirmed or RAC ticket instead of Wait listed one.
I also agree 100 % with you that PQWL may even get confirm in this case while the RAC remains RAC upon charting.
But...
more...

what the point matters is the position at booking status.
In this case the person holding the PQWL ticket is not assured of berth without confirmation but with RAC at least he/she can expect sitting accommodation, so which one will be given priority and also this RAC will be from GNWL, so you can easily expect that chances for confirmation are better in case of RAC(but still I say it is not final)
Here what we calculate Chance and predict on behalf of that.
You must have seen my predictions are also wrong some time.
I daily book some tickets by these smart methods and my experience says most of the people prefer RAC over wait list even it will be available by paying more from any other station.
This was the case of extension of booking up to any other station while I have observed the cases where some passengers are ready to pay more from both sides(I mean originating station & terminating station) & then we change the boarding point also.
Even some times you may not be able to get bookings in tatkal while with these methods you can get RAC or confirmed.
So which will be given priority by a normal thinking person :-
Wait list ( any PQWL, RLWL or GNWL) where no guarantee that it will get confirmed/RAC or not (till then suspense) and passenger is not authorized to board the train.
or
RAC (At least sitting accommodation is assured) & passenger is authorized to board the train.
Regards
:)