**UPDATE, as of 3:03 p.m.  Most of AT&T’s 2,000 stores nationwide ARE SOLD OUT. See below if you still want to order an iPhone.**

If you’re heading to an AT&T store to get an iPhone, you may be out of luck. But Apple stores in Orange County appear to have plenty — if you’re willing to wait in line.

Geoff Mordock, with AT&T, just told me that he’s heard almost every AT&T store has sold out of their stock. He wouldn’t say how much they had to begin with.

“The lines were longer than last year,” he said. “We want to make sure people know that more inventory is coming.”

Much of the wait is due to activating the iPhone by AT&T. It took iGirl 30 minutes to get her iPhone activated this morning — and that was after waiting 10 hours till the store opened and another hour to get inside!I’m waiting on an update from Mordock as to iPhone inventory left at AT&T stores in Orange County.

Meanwhile, here’s what’s left at the Apple stores:

Irvine: Irvine Spectrum, 85 Fortune Dr. #311 Irvine, CA 92618 (949) 255-1500
As of 2:15 p.m., a rep said that all iPhones are still in stock. Current wait time in line: 1 hour, 15 minutes.

Costa Mesa: South Coast Plaza, 3333 Bear St. Costa Mesa, CA 92626 (714) 424-6331
As of 2:22 p.m., a rep said, “We have them in stock and there is a line.” He wouldn’t say how many are left.

Mission Viejo: The Shops at Mission Viejo Mission Viejo, CA 92691 (949) 365-0727
As of 2:24 p.m., a rep said, “We do have a lot at the moment, but there is a 4-hour wait in line.” The 4-hour estimate is based on the time it takes to activate the phones and the number of people in line. He won’t guarantee that there will still be iPhones left if you get there tonight.

Brea: Brea Mall, Space #1024A Brea, CA 92821 714-255-5610
No answer. Must be pretty busy over there. Anyone else know?

Newport Beach: Fashion Island, 367 Newport Center Drive, Newport Beach, CA 92660 (949) 729-4433
At 2:30 p.m., a rep said, “We have a lot left.” But then he added that the line is 5 hours long and he can’t guarantee there will be iPhones left tonight.

UPDATE, as of 3:03 p.m.: Mordock said that most of AT&T’s 2,000 stores nationwide ARE SOLD OUT.

But stores should get replenished within a few days. One option AT&T is pushing is its “Direct fill” process, where customers would essentially put down a credit card, order an iPhone and a phone will be reserved in their name. You must go to an AT&T store to place the order, which is expected to take 7 to 10 days to arrive.

Earlier on Gadgetress:

• 28 minutes to get iPhone activated
• It’s iPhone time!
• Closing in on the 3G iPhone, meet the iLine
• Meet the iCrowd at the Irvine Spectrum Apple store
• OC’s iNerds start lining up for 3G iPhones
• iPhone not 3G for some of O.C.
• iPhone countdown: All you need to know
• 10 reasons why camping out for iPhone is better this year
• 5 ways to save money on the new iPhone
• New iPhone leaves iGirl wanting more
• iGirl’s iPhone 2.0 wrap-up: Cheaper, faster, better!
• Let the live Apple iPhone 2.0 coverage begin!

Holy iCow! Sonya ‘iGirl’ Smith camped out in front of the Apple store in Irvine for more than 10 hours last night, only to wait another hour and 28 mintues more to finally get her shiny, new, white, 16-GB iPhone 2.0. Well, she is iGirl. She’s been updating her status all night at ocregister.com/money. Here is her wrap up of the experience (called in via her new iPhone):

It took about an hour and a half, but I have it. And it’s beautiful!

They delay was caused by the need to activate AT&T accounts. Last year, you just handed Apple the cash and got the phone, which you activated later at home. But because it’s taking a half-hour to activate one user, the Apple store this morning is giving customers the option to activate new iPhones at home. But obviously, I didn’t want to do that. The line is definitely slow but all the employees are working one-on-one with customers to make sure they are set up.

It cost me about $400 (the iPhone was $299) because I also spent $69 for Apple Care insurance, a case and a screen protector. Plus, there was an $18 upgrade fee from AT&T. I got a cool case, a Belkin silicon sleeve, that is black but the back of it lets the white of my iPhone show through.

The experience has a different feel than last year because it’s such a process to set it up. Last year, you were running out of here screaming and the crowd was cheering. The first 5 people were cheering and excited when they left. But last year, people were screaming their heads off, like they just won the Super Bowl. This year, most of the people I’ve seen already have an iPhone. Or else, it’s been around for so long, it’s not like, ‘Omigosh, this beautiful thing.’

If you’re planning to get one today, I’d recommend that you check online to see that you have everything needed to get set up. Also, check out nearby AT&T stores, which may have the model you want if the Apple store doesn’t. Hopefully, like last year, Apple will post which stores still have iPhone left. The employees here won’t tell me how many are available. Everything is hidden in the back, unlike last year when they stocked cabinets and drawers in the store with iPhones. There’s no way of telling how many they have.

Mr. Perry White [iGirl's name for her new gadget] is doing well. I can’t wait to get home and play with MobileMe and download applications and get rolling because the applications is going to be the best part of having this.

I’m really glad I got here when I did. But I don’t know if I’ll wait for another one. But we’ll see when the next iPhone comes out.

I was about number 15 in line and there were at least 200 people in line. I have no clue if this is going to sell out. I think the 16 GB white ones will go first, but I don’t know. They’re suggesting that you call the Apple stores the night before you come in to see if they have what you want.

It was very much worth it — camping out and waiting, that is. The reason why is that it was unnerving enough to have to wait outside for all the iPhones to get activated for the first group of people [iGirl was in the second group of people let into the store]. People who showed up at 4 a.m. will have to wait in a long line because it’s taking so long to get people activated and plugged in.

I’m really glad I got here when I did. But I don’t know if I’ll wait for another one. But we’ll see when the next iPhone comes out.

Coming later today: iGirl examines the iPhone and offers her analysis.