Debated it. But truthfully, it's like saying you'll launch the product when it's perfect. It's never done. It's always improving.
But what is "it"? It does sound like a wiki, or an article with comments.
Tell me a story. Get me to empathize. :)
In designing another system recently, I wrote down my entire thought process as it developed in the form of questions and answers to myself. When I read it back now I can see how I had this mixed up set of ideas and was actually quite confused. Then, as you read down, things start to become clearer and ideas become more developed. I guess it still has quite a long way to go as well because things certainly aren’t as clear as I would like them to be.
So the point I’m making is that definition and clarity can take as long, and sometimes--although I think this is infrequent--longer, than the software development.
As for the question of whether you should blog about it. I think it’s a difficult call. In a way you could say this story has wasted everyone’s time because I still have no idea what the app drupeek’s developing is about. But on the other hand we wouldn’t be having this conversation now were it not for it.
You have the opportunity to get exposure to thousands of hackers, entrepreneurs, and investors, right here on Hacker News. And yet, you haven't yet provided a compelling story that anyone can actually understand.
What does your product do? What problems does it solve? How is it better or suited to a different niche than many other tools (wikis, bugtrackers, Google Docs, email) that people already use?