I simply don't understand this. I have things to do with my life. It might make sense for a single person with lots of vacation but nowhere interesting to go (again, bizarre), and IF this were the only way to get one on launch day.
Myself? I'll set my alarm for 2:55AM, pull my phone over off the side table, preorder from my phone, turn it off and go back to sleep. I'll have my phone at roughly the same time as they will. (I do a MyChoice hold from UPS and pick it up at the hub on my way to work on launch days...usually have it by 8 AM). Even if the hold isn't possible, I might (oh my gosh!) have to wait until the evening to play with the new phone.