Do we build this feature?In a startup, that's all about customer development. Steve Blank has a book and a lot to say on the topic. http://www.amazon.com/gp/product/0976470705/ref=as_li_ss_tl?...
If so, how should it flow?
UX is non-trivial you will have to spend a lot of time learning about it. I always recommend Don't Make Me Think as a starting point. http://www.amazon.com/gp/product/0321344758/ref=as_li_ss_tl?...
How important is...
There are questions that can be answered by understanding UX patterns and anti-patterns. There are also questions that require A/B testing. When in doubt, test.
However, UX can also suffer from premature optimization. Just like in writing code where you wouldn't use a big array when you need a map, don't ignore UX, but don't try to answer details until after it is working or you could find yourself bike shedding instead of shipping.