The Droid X will be available in limited quantities on launch day, according to a leak from Droid Life. They received a series of screenshots from two Portland, OR stores. Both showed inventory numbers of 20-25, although as many as 60 phones are expected to be available at larger retail outlets.
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If you want a Droid X on launch day but haven't pre-ordered one, you may be able to get one if you arrive early enough. I'd recommend getting there 2-3 hours before the store opens (call the manager a day or two ahead of time to check their expected availability) if you want to ensure you end up with one of the few available devices. Good luck!