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Well, "walking out" is pretty rare and only happens to certain fraternities. Generally it carries little punishment because it doesn't happen too much. If a rushee simply doesn't want to talk to that fraternity, he usually sits in the middle of the room talking to other rushees who don't want to talk to the fraternity.
The chapters have no limit on how many they want to invite back....but it's a self-limiting things. Certain fraternities have what they dub the "Frozen Chosen"... that is a few of the fraternities only invite 150 men back on the second round....out of nearly 600, that's alot of cuts. It allows them to focus really hard on certain guys who are likely part of other top fraternities frozen chosen.
Bids are given out this way (I'll try to explain it best I can, it's kind of complicated). A fraternity is given a certain quota of people based on chapter size. For smaller fraternities, it's 50. After the last two nights many fraternities may have approximately 150 guys that they have to put on an "A" list and a "B" list and a "Cut list".
If the fraternity is allowed 50 total, then it may have 50 people on it's A list. If a man puts XYZ as 1st on his pref card and is likewise put on XYZ's "A" list, then they are automatically paired and he gets a bid the next day. If XYZ has someone on their "A" list, but that person is on the "A" list at ABC and he puts ABC 1st on the pref card, then the person goes to ABC and the 1st person at the top of XYZ's "B" list goes onto the "A" list for XYZ.
If the man puts XYZ first and ABC second, but XYZ cuts him, but ABC keeps him on their "A" list, he goes automatically ABC. The rushees do not know which lists they are on. It's all computer automated. The rushees stand around in the Union one-by-one filling out pref cards. The choices are then placed into the computer by someone whose working Rush. Fraternities find out whose coming their way usually around 1 o'clock that night. The rushees get a few calls but many find out on Judgement (err...Bid) Day.
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Overall, though, it's the bigness of the car that counts the most. Because when something bad happens in a really big car – accidentally speeding through the middle of a gang of unruly young people who have been taunting you in a drive-in restaurant, for instance – it happens very far away – way out at the end of your fenders. It's like a civil war in Africa; you know, it doesn't really concern you too much. - P.J. O'Rourke
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