when things go bad like that, AA is pretty quick to zero flights to leave room for the airport agents to work. they'll put oversale passengers on the next (sold out) flight, and standbys do get on flights. i got on a F0 Y0 flight out of DFW yesterday afternoon, and even got F. (of course, the new flight pushed five hours before my original flight, and arrived one hour earlier, so it was a shallow blessing...)
i'd say if you need to get out early, go for it. it's bad, but probably not as bad as it looks.