The gift card does have some requirements. You can't use it at Tiffany's for example (not that $150 pays for anything but sales tax in that store) nor can you use it at IHOP for a late night dinner of chocolate chip pancakes. The card must be used at the Microsoft Store online.
One person who pre-ordered the Nokia Lumia 1020 on July 18th just heard from Microsoft that his handset will be shipped on August 1st which isn't too bad considering that there was no way of telling when his unit would be released. Hopefully that date will apply to a large number of those who are still short one Nokia Lumia 1020, but are $150 richer.
Microsoft is giving $150 gift cards to those whose pre-ordered Nokia Lumia 1020 is delayed