Notice that Half.com had already been started, built up, and sold long before the patent was even granted! 5-7 Years? You could start half a dozen startups in that time.

File for the patents, but don't waste any time or money trying to make the filing "good". At best, patents pending are quaint old fairy-tales told about a bygone age to make investors feel all warm and fuzzy when you tuck them into bed.