This reminds me of my days teaching test prep classes for Kaplan. At some point in every Kaplan teachers career, there came a point when you'd do the math and realize that Kaplan was charging students $100/hour but only paying you $20. Inevitably a few of the best teachers would try to go out on their own. They soon realized that getting students took a lot of work - putting flyers up on campus, working your network looking for referrals, building a word of mouth reputation. Most ended up failing and coming back or moving on to something else. There were a few that made it big (e.g. Robin from TestMasters) and it turns out that these were not necessarily the best teachers, but they were definitely excellent marketers.
Kick ass on the code for a couple years (you might find that you enjoy it if you can get out of Java Hell and start doing functional programing) but, from the sounds of it, you'd be happier as a PM. PMs get a bad reputation because 80% (or more) of them are idiots, but the other ~20% can be invaluable for their ability to market technical work, internally and externally.
I've gathered few questions and important points which I would ask/tell myself before starting up again. Here are they:
1) Do you have a co-founder which can leverage your skills?
2) Have you zero down on an idea and did your market research?
3) How confident are you about the target market?
4) Do you have a execution plan or Goto market strategy?
* Market first, product later
* Ideas are worthless unless they're executed really well.
Thanks,