I spoke with an Apple Support rep and they said that "Personal Pickup" will be available for 5s, but you take a risk, as jav6454 pointed out, because they may run out of "launch day stock" (in which case, you'd have to wait for more stock to come in to that Apple Store).
I'm just opting to have it shipped. I don't have the time to go to an Apple Store early or camp out, so I've justified waiting for a new iPhone until a few days after launch day to be a first-world problem.

I know where you're coming from though, I wanted so badly to have a pre-order or go run to a store.