I agree with your point on dilution.

The problem is that finding a co-founder with the requisite skillset, motivation and personality match is hard...it's almost like finding someone to marry. However, I know need at least one. The sheer amount of work to be done makes it a necessity, especially while I'm finishing out my current contract as a consultant.

But until I find the right person, it's going to just be me, slogging away.