I am with Twigg. Waiting in line is never fun, even drunk and with friends. The last time I waited in line was in college, waiting for a roller coaster. We were all drunk, and my one friend barfed all over himself and had to go wherever they take way too drunk idiots at amusement parks. His girlfriend picked him up. He remembers none of it to this day.
I guess I thought it was fun at the time, but now I just see that we could have all gotten just as drunk at home and still been as happy the next day. To each their own though. I can respect the zeitgeist of the launch game/console (more so the console, but whatever).