Very insightful... More liked the point where you described how you had to start cutting down on stuff so that you get to release it.... I think deciding on one feature and one feature only, developing it and throwing it out to the world is a good idea most of the times :

1. Gives you an opportunity to test if people like what you have to offer

2. You have a ton of features lined up in your head but based on user feedback you would know how to prioritize them