One of our forum moderators, Justin Horn, just watched Apple Store employees at The Falls in Florida tell people that they'd "sold out" of iPhone 4, and if they were at a certain point in line (i.e. further down than Apple had stock to cover) that they could start making their way home.
We're betting this doesn't include those with confirmed reservations, but if you were thinking of heading down just to try your luck... good luck.
We've seen lines go around (and around) the block, and mobs of people in front of the Apple Stores. Bigger lines than the iPhone 3GS launch, bigger than the iPad launch, some Apple employees are saying these are their biggest lines ever. And that's with Apple doing pre-orders and starting deliveries yesterday.
If you're in line and your Apple Store is starting to sell out, tell us where