I went to the Eaton Centre store. I arrived at around 930 am and there was a good sized line up already, I was probably about 80th in line. The store was already open and they were processing people. I assume that this was because they had phones left over from Thursday. It seems that they got more phones than they could process for the day. At around 1000 am, they ran out of phones and they tell us that they didn't now if and when more phones would arrive. They tell us that once there are phones they would let us know and tell those of us in line who would be wasting their time by waiting. By around 1230 they come around and start counting people and asking what they want. Still at this point they wouldn't tell us that they actually had any phones, but they said that we had a "good chance" of getting a phone today. After doing this, later one they closed the back of the line. At that point anyone who wanted to stay longer would be taking a chance that either they would have run out of phones, or that they wouldn't be processed before the store closed. By around 4 pm, I was finally at the front of the line and into the store shortly after. The store was a mad house. They actually didn't have many of the staff working on phones sales that day. This is a major part of the hold up. As well, new activations take a long time because people have to look at the various options with each of the carriers and try to decide what they want. Upgrade renewals actually are the fastest and despite that, it still took about 20-30 mins of this to complete the sale and get out of the store with my working and activated iPhone 4.
Hope that helps.