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Yeah seriously. Drop out of college, quit your jobs, and go into debt to buy this new iPad......
Seriously though, yeah opening time will almost certainly be too late. I have long history of camping out for the newest gadget (ps2, ps3, iPhone 4, xbox) you name it) mostly because I really enjoy the experience. I will never pre-order. Having said that, I generally go about 12 hours ahead of time and showing up when they open is 99.5% of the time going to be a waste of time. Heck even the people who show up only two, three, or four hours ahead of time never make the cut.
Your honestly better off going on a day after launch where you can afford to be there by 4am and just exchanging what you have.