Just figured I'd throw in my experience, updates and 2 cents.
I ordered 1 16GB on November 13, 2012 11:53:06 AM EST it arrived on 11/20/2012. Google wallet showed it as shipped on 11/15/2012, though it didn't enter the UPS system until 11/16/2012 since 2 day air is only business days, I did just about receive it on the 2nd business day after it was shipped (11/19 and 11/20 being the 2 business days after 11/16). And it was within Google's estimate of 3-5 days to be shipped since they considered it shipped on 11/15/2012 (that was the day the shipping info had been handed to UPS) and I ordered on 11/13/2012.
Google considers the item shipped once the order has been handed over to UPS (normally you will receive shipping info within 24 hours of that time). UPS considers the item shipped once it is in their system and in transit. There can be a difference of between 1-4 days (depending on weekends) between these two dates, this is not allowed for in the 1-2 (or whatever) week to ship estimate from Google or the 2 day air estimate from UPS.
In theory you could order the phone on 11/27/2012, it can be 'shipped' by Google as late as 12/11/2012 (given a 1-2 week estimate) it can then take a couple more till 12/14/2012 for UPS to process the order and have it in transit, then it can arrive on 12/18/2012 by end of business day (note for residential addresses end of business day can be as late as 11:59PM). Even though you would have received your phone 3 weeks from when you ordered it both Google and UPS fulfilled their obligations with regards to shipping times and estimates.
I have also placed an order for another 16GB on November 27, 2012 3:24:18 PM EST, I have received shipping info, but since it is not UPS transit system I doubt I will receive it before 12/5/2012.
It also appears that the large percentage of people that haven't received their phones that ordered on or around 11/13/2012 have had some kind of billing or shipping address problem, it only makes sense for Google to process orders with no problems prior to spending extra time trying to resolve 'problem orders.'
Also maybe it is or isn't worth mentioning, but each time I ordered the 16GB I didn't spam the proceed button and I have never called/emailed Google about where my order is or it's status. I just placed a normal order and waited patiently.