Right now I can think of a million things I can spend $1200 on. I used to be hyped for the Apple Watch but that hype is dying fast. Every day I wake up with less hype and I fear one of these days I'm just going to wake up and cancel the order (maybe ill find a cheap model when they're more available in June since that's how long I have to wait anyway!)
Plus, Apple's attitude toward this whole thing is very anti-consumer. So yeah, I'm a little salty.
If you can't wait for something that didn't exist previously then you never were ordering because you wanted it. You just wanted to be one of the cool kids to be among the first to have something new. I'd say go ahead and cancel if waiting a few weeks is too much stress for you.