I just called and they are unwilling to give any additional information past "Preparing for shipment means the warehouse has your order and when it's shipped you'll receive a confirmation".
Another lady I talked to before that said the same but the item is backordered and when pressed about how this could be and why I didn't receive notification, the call was dropped...
I'm not sure their how their order processing goes; either a ton of people ordered before I did at 1am PST or the model I want is extremely low stock -- 42mm Aluminum Gold Cocoa Sport band. Regardless if I don't receive it or it doesn't ship tomorrow I'm going to call and demand to talk to someone that knows more.