I am puzzled, as well. The only reason they would put you on standby for a flight that you are confirmed on, is if you showd up late for check in. You must be checked in at least 30 mins prior to departure time of your flight, and at some locations, you must be checked in, even before that.
The problem is not Continental scheduling. Continental cannot just go schedule flights, because of delays. No flight is guaranteed, and this is the same for any airline you fly on.
If Continental offered to book you on another airline, you should have taken that deal. What most people don't understand, is that when one airline books a passenger onto another airlines, such as Continental booking you on United, Continental then has to pay United for that fare, the same as if you called United, and purchased the same ticket on them. It isn't done at no cost, like most passengers think. Basically, on this day, Continental offered to pay for, and book you on another airline to get you to your destination, and you turned them down. That is not their problem.
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