That's a good summary, I think you touched on the point that when looking for a partner filtering the people is as important as filtering the ideas. Compensation and equity are always going to be difficult. I think it's completely possible for the idea person in a small ISV to justify a 50% stake, as there's just so much to do... the problem is that many people will fail to do enough of it. When I think about what I do on a daily basis, probably 30-40% at the most uses my development skills, the rest could easily be done by anyone committed enough to the cause and hungry enough to learn.

If you have an idea with domain knowledge, plus a knowledge of (or willingness to learn about) copywriting, web design, blogging, search marketing, market research, customer relationship management etc... you could easily earn your 50% stake in any Micro ISV venture.

If you just want to have the idea and then expect to sit back and wait for the product to arrive (and then sit back and wait for it to sell), that's not a useful partnership.