All the experts these days are recommending an “iterative” approach to designing software applications (including Websites).
Iterative essentially means that the application is never “done” nor is it ever “perfect” but it is “good enough” and will get better as it is used. The users, in fact, will provide feedback which will strengthen it over time.
I love this concept, but when you’re about to launch a social networking system that has taken 8 months to build, you want it to be PERFECT, if you’re like me you do anyway. You want everyone to look at your application and say “eureka! you’ve done it,” not “hmm. It’s nice, but…why doesn’t this button work correctly?”
Anyway, I’m only having these thoughts because our site is on the brink of beta - running a couple days behind our predicted schedule - but we’re VERY close now. In fact, here’s a look at my very own profile page from inside the system:
Sadly, I don’t have any “comments” from friends yet, which is why the bottom half of the page looks a little blank. I hope that area will fill up with glorious reports of how much everyone loves the new system. I realize not everyone will love it. It’s gonna have some rough edges. It’s gonna break from time to time. But it’s gonna get better every day as we ITERATE!
I just hope the users of the system - especially the other teams who are paying real money to make this system their very own - will be patient as we work through the “iterative process” together. They said they would. And I told them to expect some bumps in the beginning, but I know how I act. Sometimes what I say and what I’m THINKING are two different things. Maybe I’m unique? Doubt it. Only time will tell. 
Once we launch the beta (probably next week) we’ve still got 6 weeks of testing before public launch…so we are looking good!!
Pat,
Some good news and some bad news.
Bad News first, users will write “this is good but…” no matter how long you develop and try to perfect things. It will just be frustrating when these comments come in especially if you think you’ve tackled everything. At least it is for me as a developer.
The Good News is that they are writing in and care enough to want to help improve the site.
Release early and release often. Stay flexible and agile. Which I think you’ve already got down pat. (oh real bad pun)
Speaking of users have you seen the revolt over at Digg? I know this is a bit off topic but it shows you the double edge sword of user-generated content.
I was so amused as I followed the Digg story yesterday. I took a snapshot of the homepage last night when every story was in some way about the Hex key.
Digg really shot themselves in the foot, it’s hindsight but even if HD-DVD is a sponsor they should’ve realized their users were more important. Even before this I saw quite a number of loyal digg users showing up on reddit saying they were unhappy. This will only drive more away.