2. Innovation or revolutionary is in the eyes of the beholder. Remember Eric Ries's talk about how they rolled out 3D election chat and no one came? How about using polished mockups to learn and test ideas?
3. Leverage - tough call. Try to figure out why they are talking to you. Do you have any defensible advantage? You did say B2B2C. Do you have customer lists, like Livingsocial? Whose customers are these, your's or the businesses?
4. Do you have a repeatable sales process? Is it scalable? If you are outgunned in engineering and in marketing, then what about relationships? Some businesses don't like working with BigCo.
5. Sounds like you need mentors rather than investors at this stage.
6. 20k per month for 2 guys sounds like a very long runway. Can you vary the billing method or business model so that you don't have to worry about the 6-9 month lag? Have you considered an early-payment discount?