This is where some "celebrity" came into play. Since we weren't getting organic traffic (nothing to index but the sales letter) and didn't have a blog up (big mistake!), a few people with lots of Twitter followers RTed me. It's a lot easier to get signups to non-binding "I'll notify you once there's something build" than it is to get actual signups. Only about 20% of the announcement list ended up converting.
What did you mean by "converting"?
As in they signed up when you announced it was open, or paid? 100 signups on launch is still extremely useful for starting out.