Wyot is only just over 4 months, and WAIT works pretty well(which he does, although you have to say it three times or so, because he runs a short distance, then stops, then repeats and looks back at us) and THIS WAY definitely works, because I think he wants to see what is "this way", which is the direction we are going, and there might be something more interesting. TREAT really works well, but there was an occasion when what he was doing and what he wanted to do strongly outweighed the treat...<sigh> BUT, if I rustle a small bag of treats, he hears that even if a longer distance away than I want him to be, and he comes running- I believe he thinks he might be missing out on something really good, LOL!
Granted, we go on trails in the woods, the big field behind our house...but, the trails are getting more traffic (tourists), and I was surprised that when people approached from the other direction, that he didn't just run off...we yelled the WAIT command, and he did, though his rump wanted so badly to leave the ground, and his tail couldn't stop brushing the snow in anticipation! He actually waited until the people were close enough, and then he went for it, not without us trying to discourage the jumping up (which we immediately tell people to not allow him to, and they are all amenable to it). I keep sort of pushing him down as I pet him, and slowly, I think he is getting that he won't get the attention unless he stops jumping.
We are socializing him with other dogs, one at a time, not at a dog park (not that there are any where I live, really), sometimes two or three in a social situation, and though he is eager and plays, he sometimes just goes into observation mode. He does well, so far.
We'll see as time goes on!