I still want one
Will I buy one? Absolutely.
Will I preorder one? Probably, but only directly from Microsoft with the assumption that I will be charged when it ships.
Will discounts be available? Probably not for several months after shipping.
Is Microsoft worried about Sony beating them to the punch? No. Sony has bigger problems in both hardware and pricing.
What about the kids gathered around the tree? If you mean those game savvy monsters who make me feel like I've got lead thumbs. they'll be fine.