Here's a rundown of my wait which may help to ease the stress of others
Friday 1PM ET: Ordered Black 16GB on DF
Friday 5:30PM: Order Confirmation email arrived status on AT&T said FRT 1 backorder and phone no backorder
Saturday 5:59AM: Out of Stock/Backordered email and online status had both FRT and phone backordered
I did not check my status as frequently as it seems that some did but the phone backorder status did change 2 times that I noticed throughout Saturday and Sunday.
Monday: Online Status was backordered for both most of day
Monday 9PM: last time I checked and both were backordered.
Tuesday 9AM: Checked status and it was shipped.
Tracking number indicates that it left warehouse around 6:30PM last night and will arrive at my local store by 3pm today.
The point is that the online tracking is not really that up to date with your actual status. If it says backordered it may already be shipped.
BTW, I still have not received any shipping notification email.