I'm still a noob at all this, so someone correct me if I'm screwing this up: Best I understand, the lower the number the better. A 10 is the lowest the dealership can assign and they go up to 50. If memory serves, 1-9 are for fleet sales and 51-99 are for lot orders. Fom what I understand, the priority system basically a waiting line setup by the dealer, but it's not always first-come first-served.
Each dealership's priority numbers are only internal to that dealership, AKA they don't compete with other dealerships. So a 10 at one dealership MAY be delivered after a 45 at another dealership (probably because the latter has a higher allocation).
A priority 12 will be "pulled" next, unless the dealership has a 10 and 11 in front of you. However, even if you're a 12, if your order includes a restricted commodity, it won't get pulled until the commodity is released.
So how far off was I??

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-Bob
http://bobbeltrami.com/mustang.htm
'05 GT: C&L CAI, SCT XCalibrator 2 (tunes by bamachips.com), Steeda Tri-Ax Shifter, Ford Racing Handling Pack: Sway bars, springs, dampers and strut tower brace