I haven't actually rigged him yet, but I don't see anything that would be an issue. Except in extreme movements, the shoulder probably won't have to roll...for a wave, the bicep would roll the mesh starting at where the shoulder yoke ends (creating the bicep crease).
This version of Sam is modeled differently, but, the same principle applies. I just brought the arm up like it's going to wave and then rolled the bicep to show how the mesh deforms. Hope that helps, Steve.
wave_arm_roll.mov