My order is in the same status. I've had that happen a few times before with Target, and it often just means there's a delay in their getting the item. I wouldn't worry about the "sold out" on the item page; that's just what Target lists on every item that is not in stock (and that has actually been released).
I'm not too concerned about it yet. I've had things from Target show up a couple of weeks after people who pre-ordered elsewhere got them.
But I should add that a few times in the past when I've been in this situation, they evetually just canceled the item--often in the middle of the night only a few moments after they sent the "take action now or your item will be cancelled" email. Typically I've been able to find the item elsewhere (at a much higher price) without too much trouble, but I missed out on a couple of early Verve Acoustic Sounds reissues (the Nina Simone releases and maybe the Clifford Brown, too) because of Target's canceling them. And those were sold out everywhere for about a year and a half, so I had to wait a while to get them after the Target mishap.
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