Guild Wars: Preorder grace period
Previously, ArenaNet had said that you'd have a 10-day grace period to register a key and then the characters in your 5th and 6th slots would be deleted. Apparently now that is not the case - you still won't be able to play Factions till you have a key but at least they won't nuke your characters.
I'm in this situation so I guess I'll be missing out on my Factions fix till at least Friday - theoretically that's when the Factions Collector's Edition is supposed to make it to retail. We shall see.