I've never done it before. I considered it a few times, but I don't usually get anything on day one anyway, and it's not like I'm ever "waiting" for a game to come out. I'm backlogged with about 100 things I want to do that don't involve gaming, and when I get to gaming, I think everyone has some games they want to go back and play again or finish or look at in a new way.
Me personally, I have some games on steam I've never even installed, so...I'd get to those before preordering anything else.