<From top to bottom, left to right: Natural waist, Empire waist, Dropped waist, Basque waist, Asymmetrical waist>
Where the waist hits can define the shape of the dress, but there can also be different silhouettes with the same waist. For instance, there can be empire waist ball gowns, and empire waist sheath/column gowns. What comes below the waist is usually dictated by your personal style.
I think it all comes down to how the waist would bring out your rocking figure. The details are secondary when you first head out to find your dress. Once you’ve decided on which waist compliments your body the most, the rest will follow according to your style, taste, and even the type of wedding that you are going to have.