For the iPad, Apple "authorised" the charge ahead of time but you didn't actually pay for it until you picked it up. However, for the iPad, we were able to reserve one for pick-up at the store.
For the iPhone, Apple are talking about pre-ordering, which suggests we're going to pay tomorrow. No one will know for sure until the first person completes the process.
For the iPad WiFi release pre-orders were only held until 3PM on launch day. I'm not sure if that will be the case for the iPhone, but might want to double check!
when I ordered my 3GS I could pick the store online. However with the ipad you had to goto the store. do you guys think youll be able to do it all online and just pickup at the store? or will we have to goto the store to reserve it.
With the WiFi-only iPad I was able to make a reservation online for pickup at my local Apple store. I did not need to put in any CC payment information. I was able to purchase the iPad with my CC on Launch Day. For the 3G iPad there were no online advance reservations for it and people just had to wait in line and then pay for their iPad as they purchased it.
Reservations with store pickup
Pre-order
Two different processes. The first did not require any payment in advance, just an indication of the store in which one wanted to pick up the iPad, the capacity of the iPad desired, and one's email address. On Launch day one could go to the store any time between 9:00 AM - 3:00 PM and pick up and pay for their reserved iPad. The second, pre-order, required payment upfront and the iPad was shipped and delivered right to one's doorstep.