I have to agree that the underlying success to acquiring angel funding in todays investment climate must focus on the basics of sound business fundamentals.
The days of investors funding "ideas" or concepts without a solid business plan are gone. Even companies today that currently have established operations in the interenet space are challenged to solidify future financing arrangements.
Having said that, I still believe that the internet holds unlimited possibilities for business opportunities that take advantage of the inherent benefits of the internet such as productivity enhancements and the ability to reduce costs.
Instead of trying to find new ways of selling products on line, I think it would be prudent to approach new ideas from the perspective of leveraging the true power of the internet...that it is a powerful communications vehicle.
I firmly beleive that e-commerce and the internet will explode over the next several years but it won't be with B2C organizations. As everyone has said, how can you expect to make money by shipping a 50 lbs bag of dog food to Des Moines??
Good ideas will continue to get funding however you will have to be prepared with a sound business plan and a thick skin!!!