I picked up a 1TB Time Capsule at a Phoenix area Apple store this afternoon (Thursday, 28 Feb). It was the last of the five they received today. I had a similar experience with the MacBook Air several weeks ago. I purchased the last one (from the first shipment) locally from a local Apple store 3 days before my BTO with the same configuration (1.8 & SSD) showed up at home on 6 Feb (it was ordered within ten minutes of the store reopening after Steve Job's presentation).
I would suggest using an ethernet connection for the first system backup. It seems to be faster than wireless. After about an hour on the 100Mbit usb/ethernet connection, the MB Air thinks it has sent about 3.82Gb to the Time Capsule. I configured the time capsule as a secondary unit with another Airport Extreme doing the routing to the cable modem for the other computers that are on line. At this rate, it will take another three hours or so to backup just the OS, iWork and some additional software (about 15.5Gb).
If your system supports Gigabit ethernet, things will go much faster.