While the present situation may not match your recollection, you can definitely use the wire to your advantage. I make one or two big moves per season.
You have to be patient. Keep in mind that the waiver wire is the waiver wire. It's a bunch of guys who were dumped by other people. There's a selection bias at work there. Aside from that, there's a sprinkling of guys added randomishly from day to day.
Every now and then, you can pluck a guy off there after jiggling your PA, IP and $ around. You can't rely on being able to do it at any given moment.