Well, it can work and it can't. I've been doing this since the first PlayStation..with a variety of 'hot' toys. It doesn't always work out.

The problem nowadays is that when it comes to consoles, some retailers are playing a new game. You can reserve a system and get put on the 'list'. But to actually get your system on the first day, they want you to trade in old games and systems. Even if you pay for the system in full, only people that trade in old stuff get priority. Complete bullshit.

Your best bet is to shop around at non-traditional retailers...music stores, Walmart, Target, etc. Not all of them have a 'reservation' process so it's first come first served. Show up with the money and go home happy. Then you can turn around and sell it for maximum profit.

Did this with the Nintendo DS and PSP. Everyone sold out of the DS. Found them at a music store in an outlet mall. Bought the last 5 they had. Sold 2 for aorund $600, 1 for $400, and 1 for $350. With the PSP, I found them at Walmart. Problem was, they said 1 per customer 1 per *visit*. I showed up there at opening time, bought 1, walked out and put it in my car. Did this 3 more times to get 4. The 3 I sold all went for $600+.