I'm picking mine up on Thursday and I was offered the midnight option. The sales guy said there would be food and drink, but whilst I can see the attraction I can wait until the following morning. I live 20 minutes drive from the dealership and if I picked it up at midnight I'd want to drive it all night, whereas the following morning I've got the rest of the day. I'm not a night owl.
Years ago when the registration prefix changed just once a year, there was a dealership close to the M25 (or it might have been a number of dealerships) who used to have a party from about 9 or 10 pm on the eve of the new registration date and after midnight the new owners would all go out and do a circuit of the M25 in their new cars. I don't think I'll be doing that on Thursday!