In response to this.

I pre-ordered at Best Buy back in June, right after E3. I had heard rumors of a shortage, so I emailed my local store (Portland, Maine) manager. This is what I asked and the answer I got-

Hello, I preordered a PS4 at your store back in June, just as preorders became available. As launch approaches, I've been hearing murmurs that BestBuy will be handling preorders on a first come first serve basis, instead of holding consoles for those who preordered. I have classes the day the PS4 comes out, and so won't make the midnight launch, and I'm a little concerned that my system will be sold before I can make it to the store. I have called the store as well as spoke with an online representative, and I got different answers both time. So my question to you is how will they be handled? Will I be able to come to the store around noon on November 15th and still get my console?

His reply-

Hi Matt, If you pre-ordered the PS4 one will be held for you until you come in to pick it up. It will not be sold to anyone else. We have been assured that we will receive enough units on release day to cover all pre-orders, so you should not have any issue.

Now, this may not be true for all BB stores, but it seems that there will certainly be enough for those who pre-ordered, maybe even some for those who didn't.