As it might surprise you I started ordering at 2:00 AM my time when Apple.com's store went live and started the pre-order of iPhone 4. I tried for 2 hours and was never able to get through to the order page, I even tried AT&T and still no luck. I woke up again at 7:00 AM and started the process again, finally at 2:00 PM I was finally able to get through and order from AT&T, and not too soon after did AT&T announce they had sold out of their pre-orders. I was quite mad, and I almost thought about trying to order again from Apple.com as their website still claimed June 24th delivery. However I didn't want to be greedy and jeopardize myself in getting iPhone 4. So I stuck it out with my ONE order from AT&T, I didn't even get my confirmation email until the next day mid-afternoon. I waited patiently and played the game fair. I know that it sucked dealing with AT&T and Apple.com trying to get the iPhone 4 ordered, but patience is a virtue and usually pays off. I can understand that many people get paranoid when dealing with something that they want so bad.
Maybe it is fair that you do keep the extra phone that you ordered, maybe it's not, but it's all up to your judgment. I just believe that everybody deserves a fair chance at getting iPhone 4, and it's up to all of us to make that happen. God knows AT&T and Apple.com didn't give anyone a fair chance on pre-order day!