early project and new direct competitor
karthikm: I found go4it fb app to be the best facebook application with all features I was looking for (and some more) and it was a lot better than 43things. I'd recommend you to proceed and build your app till you are better than your competition (if this is what you are really passionate about building). The space is crowded and there are ~100 goal apps in fb. However, the best one beat the rest by a clear mile and I didn't even have second thoughts about using it. Note that I wouldn't use any other app right away for the following reasons:
1. go4it provides me all features I need. Some other tool should provide me with awesome features that I would definitely want to use. 
2. I wouldn't want to copy all my goals, timelines, progress and comments into a different tool.For new users these factors won't apply. When you reach a point where you are better than the rest, provide screenshots (similar to yammer) of how everything works in your application and what's better. In my case, I had to install each app to try it and it was frustrating.>> As you can imagine, it is always a bit hard to discover a new competitor when you put some effort in your idea.- I can't really imagine this happening and I strongly disagree with this. Now that you are spending so much effort on your app, its all the more important for you to know what your existing and new competitors are doing. Its similar to defending your hand if you are the big blind in poker.