Hi Everyone,
Well maybe some good news for you all. I also ordered direct fulfillment on the opening day, because they ran out of the 8gb model like 2 people in front of me. I then found them at the Apple Store by where I live the next day, and when I tried to cancel (like they told me I could) they said they couldn't.
I ended up on the phone with them for about an hour and a half, and Finally figured out a way to have it cancelled. The last lady that I talked to said she could put a note on my account, and tell them not to ship the phone out with the others. Now I don't know if this will work but she assured me it would.
As far as the money, what they did to my card, and I would guess to yours as well is a Pre-Authorization. They don't actually charge the card, but just make sure that the amount of money that the will require when they ship the phones is available. The problem is that it leaves you with no way to spend the money! What I did is go to my bank, and tell them that I cancelled my order, and asked them to release the funds. They did, and told me that if AT&T tries to take the money (they said I should see it on the day that they try and take it out) that if I go down to the bank within that day, I can have them put an unauthorized transaction on it which will prevent them from taking the money out, and also effectively cancel the order.
It's a lot of monkey work, but I think if the first way doesn't work, the second one should...
I also have reason to believe that the Apple Store's will have more in stock shortly, and I for one thought it a much better experience like always to buy my product through them.
(wow my fingers hurt!)