From what I've seen happen at Oakland's b&m, usually people line up around closing time or before (there are people with no lives who will line up just to line up and not buy anything), and Best Buy will re-open anywhere between 1 to 15 minutes after midnight. There usually isn't a big plan as far as midnight releases go, so it's not like they're fully prepared to open right at 12:01 to make sure they can close by 12:30 - it just goes as smoothly as whatever assistant manager lets it go.
For me, since there are only two Best Buy's near each other (Oakland and Richmond), they get pretty decent line sizes and they generally go smoothly as soon as the doors are opened (usually only one side of the doors open, you're escorted right to the check out lines where the games are being held, and are processed and sent on your way asap). I was told for Richmond that the Asst.Manager was going to throw up the CA display right next to the check out lines so you can grab a copy of the movie on your way up to the register. Again, he was looking forward to how the sales of the movie should go tonight, so don't expect every other store to be the same. You might even have to ask someone about it if they didn't have the foresight to put any copies out (you should call your local store and bring it to their attention in case no one has even thought about it).