A lot of speculation about how they are bleeding money and losing pre-orders right and left. However, think about the basis of their business for a minute. If bitcoin fails, they fail. Wouldn't it be logical for them to make at least a modest investment in bitcoins directly if they are going to invest millions in ASIC development?
I'm guessing that BFL probably has tens of million worth of bitcoin stockpiled (remember, they were around back when BTC was a small fraction of the current price), and is in no danger at all of going under or failing due to lack of funds.
It's nothing more than speculation. Just because a handful of bitcointalk people are pulling out on orders for a few singles or even a minirig doesn't mean that there aren't many, many more whose investments are several orders of magnitudes greater than the sum of all requested refunds.
Also, we have absolutely no idea what their profit margin is like.