The 360 was my last midnight launch experience as well! My local Software Etc. didn't get my pre-order in, so I instead of waiting I decided to camp at the local Walmart and managed to snag one of two premium 360s. I got there around 1pm and was second in line. It turned out to be a lot of fun. The first four of us in line ended up becoming friends and we bought a couple board games to pass the time. Around 10pm scalpers showed up and they were super aggressive. They tried cutting in line, but thankfully one of the employees gave us at the numbers to mark our spot in line so it didn't matter.
Along with the console, I snagged Perfect Dark Zero (the night club level was amazing at the time) and Kameo (which gave me terrible motion sickness so I only got about an hour in).
Perhaps a result of being older, I pick up my system pre-orders the next morning and I'm fine with that. Amazon has been good about delivering games the day of release.
I remember seeing pictures of hundreds of people in Japan lined up for launches and wished I could one day do something like that. Camping for the 360 wasn't quite the same experience, but I look back at it fondly.