Thanks for a great reply. You seem very systematic in your evaluation of the idea. Any tips of books i can read that teach me about this kind of process.
There's an ebook at custdev.com that's meant to cover the same content in a more accessible way, but I don't think it's a good starting place since it assumes you have some knowledge about the concepts. Just googling around and digging into "customer development" is probably a safe starting point, and then grab Steve's book if it resonates w/ the way you think.