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Sounds great. What I'm missing are some references. If those are not available, a nice "here's our team" page would be great, providing more information about the "not-cowboy-coders with 10 years exp". Like "this is steve, steve has worked for the last 3 years at microsoft doing this and that, he's responsible for ...".
thanks for the feedback, I'll get on that straight away
Also, thanks to whoever sent this in:

    From: thetwins@winklevoss.com
    Social Web App, like FB, but better.
I find this funny. Prepare to be sued.
we tried this some time ago for RoR prototypes(also price was lower about 5k as far as i remember).

it didnt end up well. we had to make few refunds as clients had to much expectations and no clue about software development. we tried to manage their expectations, but thats very hard when you deal with someone who has 0 exp in software development and operates phrases like "i need twitter script so that i can copy it to my server"

most wanted was twitter/digg/facebook clone(or as many call it 'script') + some unique features build for peanuts within 2 days

also good luck getting your second 50% and convincing someone who has no clue about sw development that it contains all features you agreed on, and no you cant change this font color very last time.
This is a problem with being freelancers/contractors generally, especially when dealing with non technical people. We're hoping we can weed those kind of customers out early at the contact stage.
i agree. but this problem especially matters when you start offering complex things such as sw development as a simple package that anyone with plain idea can get.

i seriously wish you good luck with this project though. let us know what was your experience with this promo.

Good luck with the code base on that such apps... :)
if you're implying that it'll be a mess, you're wrong :)
Out of curiosity, was this inspired by my service?

http://iwbyp.chris-granger.com/

No, I've been mulling this over for a few months, yesterday we just decided to build a site and launch. I did see your post though, how are you getting on?
we've been offering "prototype in a week" for years at http://astrails.com/

Didn't get much demand for it. Its rare a customer will agree to the minimal enough feature-set for it to be viable.

In FF4, the "launch fast" part of your title is almost completely hidden. What happened, only had 6 days to make it? ;-)
really? that's strange, it looks fine in FF4 here. The site was about 12hrs including copy writing, so there may be a few mistakes.
I have some unlimited hosting to go with that for 5$/m.