Personally I would never camp out for a phone. Partly because I'm lazy and like the convenience of getting it shipped, partly because I don't have the time to sit in line for a day (Married with children), and partly because it ain't my thing anymore. But I think its kinda cool that people camp out. I've seen it done for other things; Black Friday sales, concerts etc. I imagine it would be fun. I would probably do it for fun if I were in a different situation.
What I don't get is people criticizing and insulting people who do. They aren't hurting or bothering anyone. Who's the bigger loser? The guy/girl with time on their hands camping in line, or the guy/girl soooo bothered and concerned by it that they feel the need to call them names (oh, and make commercials insulting them *cough* Samsung *cough*)?