I didn't have time to write about my pre-order experience last night, so here it is...
I went to my one local store (there are no other stores in a 100 mile radius). I asked my Target Mobile rep if they would have any iPhones in stock for sale on Friday. He said they will only have phones to sell to those who do a pre-order and buy the $25 gift card (to use on whatever I want, including the phone). I asked him if I did the pre-order, am I guaranteed to get my phone on Friday? He said "Yes, we're supposed to have them on Friday." He tried to verify that I am eligible for an upgrade, but his system only showed that I am eligible for a 2 year upgrade next year. He didn't know how to check for the Edge upgrade, and neither did the other person he called for help. I showed him, on my phone, that I am eligible for an Edge upgrade and he let me do the pre-order. He said I need to call in and make an appointment to pick up my phone after I get the email saying my phone has arrived.
I'm still planning to go to one of our two local Verizon corporate stores to get a phone Friday morning. I'm not putting much faith in my Target, but I hope they prove me wrong.