If I preordered the iphone 6 (and selected store pickup ), what will the wait times be?

I've never preordered an iphone before, so I have a few questions. First, do I get priority over other people who didn't preorder the phone? If not, what are the benefits of preordering anyway? What wait times should I expect (as someone who preordered it)?

When you preorder with store pick up, a phone at that store gets reserved for you out of the stock on hand. So if the start of the day that have 50 phones, your reserve order comes in before they open, they set aside one with your name and order info on it.

Now on the other hand, your reserve order hits and they do not get it until AFTER #50 walks out the door, you wait until they get restocked or they can call another store and have them put one aside for you, as you hot foot it to that store to pick it up.

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