It's funny you say that because I am on your side here, but a close mentor of mine who has successfully founded, raised venture funding, and sold 3 tech companies disagrees. He recommends doing as much as I can for now and then get funding rather quickly. I'm not saying he's right but he has some pretty good points to back up his recommendations.

The only problem I foresee with getting a committed CTO is finding one around my area. I had one incredible programmer who had just quit his job at Match.com, but he got offered a job he couldn't refuse with equity in the venture funded startup in the valley.

I guess I just need to start the process of finding the perfect fit. I'm probably going to reach out to Raleigh for this.