This is a great post and I agree with everything you say and I am glad you guys are doing this.

I just wish you had more information about your company online (Angellist/Crunchbase etc). I think few people would be willing to put in 3-4 hours on a coding challenge unless they had a good idea about your funding, size etc.

I might have got a coding challenge from you a few weeks back but skipped it because I didn't have enough information. Ah well.. might do it this weekend.

Hope this helps!