[jlogic77]

Aside from the items you've mentioned you should also consider these items:

Proving your market - Attracting and registering large numbers of people prove it's something people want. If you can't give it away for free, there's a problem. (Good for funding)

User feedback and "The up sell" - With the right features that non-paying customer may be a paying customer waiting to happen. You'll also have collection of emails of people interested enough to try your product, where you can up sell them to paid later. (Good for your product)

Scalability - Testing your product in the real world with real traffic patterns, live servers, and people depending on your service is very valuable. (Good for funding AND your product)

I'm a huge believer in the freemium model. Just don't give the cow away and try to position your premium product where users feel like they are getting real value when they have to take out their wallets.