Too much social life can ruin your business. Perhaps you must become a member of NYTC once you have built your product and are ready to launch it, otherwise you don't have time for being alert to your social environment.
I would say talk to many people while developing it - and before you start. I don't see how it could ruin anything unless you think that it's going to become some sort of addiction that you spend all your working hours doing?
I agree with Kristian. It's not that much time and you would be surprised how you can grab lunch with someone and, by the end, they will have completely changed how you thought of your idea.