I might not have mentioned it, but the fruits of my exploits were:
Xbox 360 (the so-called “premium” system)
3 additional wireless controllers
4 rechargeable batteries
2 Play & Charge kits
Project Gotham Racing 3
Perfect Dark Zero
I also picked up Call of Duty 2 and Condemned.
I was number 133rd in line and waited a total of about 15 hours. I met some great people (several other Microsofties included) and had a generally favorable experience despite the deep cold that comes from that long in sub-40 degree weather.