An interesting story, but I think this is n part an "it depends". I contrast this one with e.g. what I remember of the quick VC fundings of Apple and Sun ... but then I note that their markets were a lot more obvious at the time and there was little time to waste.
(I bring this up because I dislike indecisive VCs, which doesn't seem to be a problem here.)
Wow. Do you really have to be over-dramatic with VCs? sounds like quite a lot of game (fore?) play.