I, like most of you, pre-ordered and anticipated that I wouldn't be getting the phone on launch day.
Luckily, a friend of mine was in line and picked up the phone I wanted this morning. I will receive my other iPhone 4S on Monday and sell it (already have a buyer).
Apple could have very well had the phones to us today - they might have needed to coordinate with UPS on a more aggressive shipping strategy, but it is certainly isn't a difficult task.
Now, for future pre-orders, we will have to decide whether to risk getting the phone 2-4 days after launch or lining up for it.