That is the way we got our phones last year at BBY. They were reserved, not preorders. We did get them on launch day, but my husband had to take a different one than he reserved. This year they said the one I wanted was not available to reserve so I would have to preorder and the only one left to preorder was the 256 RG plus which was fine with me. It was actually less monthly than the 64 RG+ I have now. Who knows when I'll get it though.Basically they called them pre-orders but then they called a couple of days before launch and said they were actually pre-orders they were reservations. And I would have a 32GB black 4S reserved until 11AM on launch day (assuming they got enough to get to my place in line, number 9). If I didn't pick it up by then they would take the reservation off and make it available to walkins.
After much arguing a blowback from people that bought from BB they changed there policy and said they would hold the phones for the weekend.
From what I remember most stores were going to make reservations available on Saturday morning but my store was doing It at 11. And I said never again will I order from BestBuy.