First product creation project, help...

Sounds like a pretty standard plan, you might just implement the front end, with email capture at first, getting back to the initial customers later if the volume justifies the private membership part.
I understand it's not practical to collect billing information on a wordpress domain, due to security leaks, paypal should be OK.
Some self marketing is useful for collecting conversion statics and perfecting sales copy that could be shared with affiliates later in the game.
Some hard core businessmen would do initial testing with PPC traffic instead of waiting for slow cooking organic traffic.

Congrats on the new child!
Don't expect any other miracles before your child is born. Keep all the
energy focused on he/she and the mother. They will need you.
Find forums, blogs and social sites with the same interest and join them.
Become an active member of the sites and contribute useful information to
build your reputation as an authority in the field. Don't try to sell to them
just provide knowledge and if it is allowed place a link to your authority site
in your signature. People that find your info useful will visit the site and
spread the word. Have a special unannounced gift waiting for them when
they arrive. Build Trust and your Rep at the same time.

Use the longtails to drive traffic to your site by creating satellite sites that
aquire targeted traffic. It is much easier to focus on what works and what doesn't this way.

Here is an example: Let's say my authority site is about Baseball Bats.
One of my satellite sites my use the longtail phrase "Louisville Slugger" and
another satellite site may use the phrase "Aluminum Bat" another may use
"Wooden Bat"... get my point? Then all the sites link to your authority site
which covers much more detailed info. You drive traffic to the satellite
sites and they will funnel people to your authority site. Yes you can and
should presell them. You can even list a product on the satellite site and if
they would like to compare more options they (if you give them the option)
can visit your main site.[/quote]
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Check out the competition: there are plenty sponsored ads, and selection of very similar product available on clickbank.

Great, You've found a market spending money!

I would set up a wordpress blog to establish some authority.

Plus your satellite blogs/sites
I would first entice them with a few free reports via the site so that they see the
quality of your info prior to hard selling them. You could do that via the
satellite sites.
Great, Remember to read my comments above!
There is always a better way to do something. You're on the right track.
Don't rush it. Build it one step at a time and you will see what works and
what doesn't. You will also be able to rinse and repeate the process for
your next site(s).

Hope that Helps,
Have a Great Day!
Michael

PS, Have you chosen a Name yet for the new arrival?
Congrats and Good Luck!

Hi paolo,

PPC would produce the fastest results although if you are not familiar with
how it works the learning curve could be costly. I would take your time and
build a foundation prior to trying to sell to the market. You said you
wanted to build an authority site so you have to gain trust and build the
foundation first.

If you just wanted to build niche sites and earn money then that is a
different ball of wax. You could do that with the satellite sites I mentioned
in my prior post.

That is what I was talking about when I said you could test them as you
go while building more of them. Keep the ones that work and tweek or
ditch the ones that don't. Then you could build the authority site after the
fact.

Just my Thoughts,
Have a Great Day!
Michael