The question is, how early can us East Coasters order? I pre-ordered the iPhone 5 around 9:30am on the Friday pre-order day... and received it on Tuesday, four days after the "promised Friday."
I suspect if you don't order soon after 3:00am EDT Friday, actual delivery will be delayed.... how much is your guess.
Yes, local stores will have ample supplies to satisfy the 8:00am queue... again, the ratio of the number of people in the queue to the number they have in stock, is your guess.
Me... I'll get up early Friday and order my color and capacity, WiFi only. :)