As far as I know, yes. But they won't sell a phone that somebody preordered but hasn't picked up yet to somebody who didn't preorder, if that makes sense. From what I can tell, it seems like they have Batch A of phones, which are all ones that were preordered, and Batch B, which are available first-come, first-served. So at 7 am, they'll let in the preorderers and will give them their phones out of Batch A. At 8 or 9 or whenever, they'll start letting in non-preordering people, who will be sold phones out of Batch B. Mixed in with the NPO people will be additional late-arriving PO people who will be given the phones they already ordered.
If I'm wrong, somebody correct me please. That's the way I took things from the AT&T dude who explained them to me last weekend, though. And on that note, I'm off to attempt to get a little sleep before racing out to get in line myself.
