Should I build my list or try to launch a MC 2.0 product first?

I hear it time and time again from tons of IM gurus that the "money is all in the list".

With that being said, I would like to start buildling it but I would also like to make money while doing it...don't really want to throw my eggs all in one basket and focus on getting leads to my list, without making $$.

So I got two options here that I'm sorta juggling:

1) Use PLR products (that I will redesign and revamp) to place on multiple websites/squeeze pages and use those to build my list.

2) Use my HD camcorder to create an online video course and put it on clickbank and do a product launch (using Mass Control 2.0's techniques)...However, I hear some people have products flop as a result because they haven't established a reputation yet (e.g. built a list).

In order to make serious money from products is it ideal to put your product on Clickbank? Or are there other ways?

Any feedback will be greatly appreciated. Making money soonest is obviously my main goal...but if it means I HAVE to build a huge list first then I am willing to do that...Thanks Warriors.