Jeff could not agree more with #1 - go to as many networking events as you can...as good entrepreneurs will self select. I tend to network 2-3 nights a week in Boston and its quite evident who are the real hustlers and who are the "hobbyists".
I have been networking hard for a year or two and have already identified 3-4 people i would no question invest in starting a company with.
Yes, networking is so important. If you are introverted and always postpone actually going out to meet people, use my new startup (letslunch.com: business networking over lunch). After all, this was one of the scenarios we had in mind when we started it. Because the computer chooses for you who you meet, you skip the awkward part of other matching systems where you can get rejected. With us, you can't.
Great word: "hobbyists" -- there's a lot of these types who attend events and are curious, but aren't true hustlers.
Thanks man. I find hobbyists aren't fully committed and look at entrepreneurship as "fun". Hustlers, also think and know entrepreneurship is fun...but its in their blood, they can't sleep at night. Or if you are like me...you email yourself ideas while lying in bed at 2 am haha.
From my experience in the corporate world as well as the small business world, the business people who use more jargon and buzz words (out of place) are usually compensating.