If you are referring to the iPhone 6...you should probably mention that at least once in your post or thread title so folks know EXACTLY what you are talking about.
To answer your question (IMHO)...no. Life is too short to wait in line for an electronic device. And the "coolness factor" of being one of the first folks with a new iPhone model wear's off very very quickly.
Just ask anyone who waited in line days or a week for a brand new iPhone 2, iPhone 3, or iPhone 4. Doesn't seem very cool now...waiting in line days or a week for a now obsolete electronic device.
1-2 weeks later (or maybe even 1-2 days later) anyone that wants to...just walks into an Apple Store (no lines or crowds)...plops down their credit card...and instantly gets their brand new iPhone 6!!!
As far as getting $800 for your spot in line. What was the whole point of waiting in line for days or a week for a new iPhone...if you're just going to sell your spot?? Now you don't even get the short-term coolness factor of having the new iPhone before everyone else.
Finally. How can you afford to wait days or a week in line?? Don't you have a job...or are a student?? Unless you are independently wealthy...unemployed...or 42 years old & still sponging off your parents living at home!!!
- Nick