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The same exact thing happened to me. I received the front of the line email but when I go to enter my email and press next I receive the "we are holding your spot" message. I have tried several times and get the same message over and over again.
Did what you suggested and now when i open BBM it is stuck on BBM Setup page with a spinning wheel. How long does the setup process take?
The setup is pretty quick are you connected via Wifi or data (3G/LTE)? Also keep in mind if you've updated to 7.0.3 then you might want to wait for the updated BBM BlackBerry working on BBM fix following iOS 7.0.3 font fubar | iMore