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The configuration that I wanted (and ordered at 1:01 am for launch day delivery ) is now showing a 4-5 week shipping delay. So, for me, the answer to the question posed by the OP is an unequivocal yes...it is worth staying up!
 
This happens every year. The Apple Store app on iPhone or iPad always comes up way closer to 12:01 AM PDT than does their website when accessed on a computer.


Oh yeah. Apple store on my iPad was up and running a full minute or so before I could access the web site. Was able to load a watch into the bag on the iPad and then pay via the web site. Needed to use the web site because I had PayPal money I wanted to use and the iOS Apple Store app does not allow using PayPal for payment.
 
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