If the watch didn't launch until 24th April, then it's only been a few weeks so far. and I think you have ordered one of, if not THE, most popular models.
I think they are doing everything they can to get as many as possible delivered in the next two weeks, so that:
- they deliver as many as possible in the product's first month
- they can report good news at WWDC in early June
- Tim doesn't get heckled during his Keynote
- they don't miss any promised delivery windows
It's been said in other threads as well that there has been a massive increase in the number of flights from China into their distribution areas.
Fingers crossed for you though.