I had doubts that they would be able to come through, so I didn't cancel my Apple Store order. I'll gladly take the $100 they sent me for the 2 watches that I'll most likely cancel now.
Read the fine print, the GC for the $50 doesn't work if you cancel or return the associated order. I guess I could use the $100 then cancel the order? What would they do at that point? Take away my birthday?