Most angels are such a bunch of pompous amateurs. If I was put in a position where I was broke and had to raise a small amount of money to start my bold new venture, I would get a minimum wage job and burn through my nights and weekends. The agony of the minimum wage job would give me real impetus to make the business work, and it would be far less ridiculous than constantly explaining business decisions to some guy who sold a company for $10m (or worse, inherited money) and now considers himself a "player."

Don't get me wrong, there are some wonderful angels out there -- for example, accomplished university professors (a secretly wonderful reason to go to college, even if you are career-obsessed and don't care for a liberal arts education or hooking up with confused 19 year olds), or successful veterans of the field in which you are operating (such as Aydin Senkut, referenced in that article, or our good friend pg) -- but on the whole, the "angel investor" industry is a total waste of time, and a total distraction.

Also, from what I hear from VC friends, some angels can make your Series A a real pain; they don't pay to play, and they get antsy about dilution. I'm sure pg would have more insight on this matter than I.