iPhone 5 pre-orders are live, but here's the thing. Shipping dates direct from Apple are at least two weeks away, and then you have a 2-7 day delivery time. Considering the iPhone 5 is actually available in-store come September 21st, it looks like queuing, probably overnight, is the only way to get your mitts on Apple's new hotness on launch day.
In the end it means that, even if you plunk down your £530+ of hard earned cash right now, you'll have to wait at least a week, maybe even two, after people can buy them in stores, which is just a bit crap. There's no word on when the networks will get them, though, so you might get lucky with network-locked pre-orders that might arrive earlier. But, it's not normal for Apple's own stores to deliver later than networks.
Time to book a couple of days off, prep the tent, portable chair and, err, portable lav, then?