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While I haven't tried the pre-approval link, I sometimes check on their site to see if the pre-approvals they send me in the mail show up, and I apparently do not exist in their online lookup...
I personally believe in "pre-approved" about as much as I believe in the fairy godmother.
If you are REALLY "pre-approved", why then do you have to apply? See the logical contradiction there?
It's never a TRUE "pre-approval" you still have to apply, and I think you have as much chance whether you were "pre-approved" or not frankly.
But I will say marketers are natural born liars. They'd tell you the sky is red with a big happy drunken smile on their plastered faces and look you in the eye as they say it. Takes a special kind of person to do that for a living.