ReadWriteWeb has a pretty nice story on 36 tips for web startups, from Software Engineering to PR and more :)
I agree on what they say completely on the software engineering team. In short their tips are:
1) You must have code
2) You must have a technical co-founder
3) Hire A+ engineers who love coding
4) Keep the engineering team small and do not outsource
5) Ask tough questions during the interview
6) Avoid hiring non-technical managers
7) Cultivate an agile culture
8) Do not re-invent the wheel
I think that the second point is the most important point, you need to have industry knowledge in your founding team (just as you should have people in your team that know the target audience)
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