We can't predict exactly how the iPhone 8 pre-order process will play out but you can expect popular colors and storage sizes to be the first to go.
Typically, the cheapest iPhone models sell out first. In the case of the iPhone 8 and iPhone 8 Plus, we expect the black and rose gold 64GB models to start selling out before the other models. So, if you want the cheapest iPhone 8 or iPhone 8 Plus in one of those colors, we highly recommend putting in a pre-order because they'll probably be the first to go. If you don't, you could be stuck with a long wait time or a model/color you don't want.
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