Coolness, I'm surprised I'm so dependent on the forums that I just didn't call the store itself. It's funny how used to technology you become!
Just got off the phone with the Apple Store in Willowbrook Mall (Wayne, NJ)...
They have the 27" i7 iMac in stock now, and they do indeed honor the federal employee program.
So, awesome. I've seen a lot of posts above about "long" wait times - I remember when I bought my iBook in 2004 it took about 15 days to arrive from the time I'd ordered it, came all the way from China!
Now, the big question is am I going to be able to control myself and wait for the next release of the iMacs if they don't get an announcement at WWDC or if I'll binge on the entry level Mac Mini.