And as I told both of the Tesla reps that I spoke to, I am willing to keep all four reservations as long as I get to actually order them in the appropriate sequence. There is no point in putting up money for a reservation that doesn't offer any assurance of a place in line associated with the time the reservation was made.
Other than owner delivery priority (which may be for only one expedited Model 3 per Tesla currently owned), reservation sequence does not translate directly to delivery time. An earlier reservation number will only get you an earlier invitation to the design studio.
If the Model X is any indication, you will be invited to configure your Model 3 along with a few hundred (more likely a few thousand) of your closest friends. Once you lock in your order details (options), and the order confirms, then you'll enter the manufacturing and delivery queue, based on your selected options, your location, and however Tesla is batching the orders. Higher optioned/loaded Model 3s are likely to be built and delivered first, as Musk has already confirmed.
Again, other than owner priority (and employee priority), I expect the configuration and ordering/delivery of the Model 3 to be similar to the S and X. Those who confirm their orders immediately, highly optioned, without waiting to test drive or even see one in the flesh will be the ones who get their cars first.
With the Model X, there are many people with much later reservations who got their cars (or will be getting their cars) *much* earlier than those who had reservations years earlier than they did. They still haven't shipped any 75D Model Xes - even those who reserved their cars in 2012 - while people who ordered P90Ds in 2015/2016 have already gotten VINs assigned (some may even have their Xes already).
I would speculate that your Model S ownership will get you *one* expedited Model 3, delivered after employees but before non-Tesla owners with the same configurations. What is unclear is if you order a base Model 3, will a regular (non-customer) get his or her loaded Model 3 before you? I believe they will.
As for the other one (or three) Model 3s you have reserved, I believe you will get the same priority for those orders that non-customers get. And the order of delivery will depend solely on when you finalize (confirm) your order, what your configurations are and where you live.
But at this point, I don't expect to even have answers to these questions, or precise details about who gets their Model 3s and when, until *much* closer to actual delivery time. "The Waiting in the Hardest Part."