I found out the guy I've been dealing with isn't the owner. I also spoke to a friend that knew the original owner (the new guy's ex-partner) and some of what went on, and to sum it up, the guy is a total douchebag that can't be trusted.
So, when I went in to the store today I brought a friend to witness what went on, just in case. I spoke to the same guy again. He told me the same story again and that they had been expecting a shipment this week, and that they really did have one in stock when he sold it to me but that they fried it when they were unlocking it (i don't believe this part at all).
I told him that when he sold me the phone, he said they had one in stock, and that i needed a phone like yesterday a week ago, so i either needed the phone or a full refund. He said he understood and that I should come back in the afternoon. I asked him if we had a deal that I would either get my phone or my money back this afternoon, and he said yes.
They're still not giving me warm fuzzy feelings, so if they stroke me again this afternoon, I'm gonna give them formal notice of my intent to sue, in which case it will be for court costs, lost wages, and the money I paid them.
Even if they are running some sort of scam, I can't imagine going to court with me would be worth it for them over a single iPhone. I checked around and they're not really advertising iPhones, which they would be doing if they were planning a "go out of business and steal as much money beforehand as possible" routine, so I'm hopeful that it will all be ok.