Having just started on my first tech startup about a month ago, I am trying to go for the "be open and honest about everything" meets "release early, release often" approach on the basis that if the idea is crap, I would rather hear about it earlier and fail quickly (so I can change direction or reset and move on with the next idea).
I am also going with a hardware-based product and am still building the site (what you will see was put together yesterday afternoon as a quick draft as we work through the "presenting the idea" stage of things and refine and streamline the concept), which is very likely to change over the next month which is also a reason I haven't done a "Ask HN: Is my startup crap?" post.
"we're building this http://www.httbox.com, get ready for the storm^"
^hopefully.