I'm not sure I would consider that a sell-out though. For me a sell-out is you can't get it anywhere for months (or at least one month). There have been a few occasions myself, when one particular sote was out, so I just went to the next one. Not that big of a deal to me. I've never had a game I couldn't get within the release week though. Even when the store-fronts are out, generally you can buy it on amazon, get free shipping, and have it there in the week.
What I don't like about pre-ordering is that you are stuck with the game even if it turns out to be crap, and a lot of times they charge extra. For me at least, it's just not worth the money. Generally speaking, if it's a game I REALLY want (like the upcoming Metroid Prime 3) then I try to get there that day and if they are sold out (which hasn't happened to me since the n64 days) I check online that evening and buy it.
The only close call I've had in recent memory was super paper mario, and it turns out, even though the walmart I first went to nearly sold out, the sam's club down the street had like 50 of em, and because it's a sam's club, nobody thought to go there. My advice (as a side note) is to NOT frequent places like gamestop on launch day. A more generic store isn't going to be teaming with fanboys and generally they get as many, if not more copies in.
Sorry to get off-topic, I'm just sharing my views. I think pre-ordering, at least the ones that charge you, is a scam and people should avoid it. Only when people stop pre-ordering will rip-off joints like gamestop quit charging 5 bucks for a service they could easily offer for free. It's not the fact that it is a lot of money (it certainly isn't) but more the principal of the thing.