Good economic analysis question for geeks like me.
If you intend to buy the gun anyway, the question is really what is your time worth.
Option 1 - pay regular price at your convienence.
Option 2- stand out in the cold for some period of time to save $50 that you would have spent otherwise.
If you have to wait in the cold for 2 hours to save $50 , you are paying yourself $25 per hour after taxes, so maybe $ 35-40 per hour before taxes. 4 hours to save $ 50 = 12.50 per hour after taxes so its $15-20 per hour.
Would you have had another opportunity (like working overtime, or something at least as fun as standing in the cold) to make more than that with the amount same time (not necesarily at the same time)?
Another assumption is that there is no risk that they will be sold out by the time you get your turn at the counter.
If you wait 2 hours in the cold, then get the counter and they sold the only 3 they had to folks ahead of you, and no rainchecks the value of your time in line was zero. Typical of Black Friday Doorbuster Sales.
Doesn't matter if it was a $200 item or a $200,000 item, you are still saving $50 for your time in line.
