While I will not be pre ordering the iPhone 5 it did start this morning at 12:01am and seems to have sold out already as the new ship date is 2 weeks after the original Sept 21st ship date. I updated my plan in April so I will be passing on this one and waiting for the iPhone 5s (or whatever they call it then).
My brother and Mom will be upgrading, in fact my Mom stayed up late so she could put her pre order in first thing this morning. So will be checking out their phones when they get them. It does look nice we shall see.