The original project exists in working order and my partners agreed to let me buy their share. I'll be building out v2 as we designed. We all took 2 weeks off in 2007 to build it, launched it, and hardly ever touched it again. v2 carries it to iPhone, iPad and starts marketing it.
If I have ambition after that I've got a few quick ideas (a short e-book on an area I've developed expertise, an obscure niche how-to site, fixing up my rental property, etc).
Do not necessarily do one project at a time though. Keep a list of things you want to work on. Whenever you find yourself needing to take a break from the main project, chip away at one of the secondary projects.
You might be surprised to find the idea you deem least important actually giving you the biggest payoff.
