After a disastrous launch of a content-free version of its site that left its CEO sputtering and pundits giggling, the ad-supported music service QTrax is ready to try again, with a relaunch set for June 18. QTrax’s initial launch was plagued by all of the major labels it trumpeted in its press release holding their content back from the service at the last minute; since then, EMI and Universal Music Group have signed their wares away to the site, although both labels have stipulated that their music has to be distributed through a method that’s more traditional (and less BitTorrent-like) than QTrax’s licensed peer-to-peer service. (Which should end well.) Anyway, I know it’s a long shot, but I wonder if any budding entrepreneurs out there have taken away the lesson that they should focus less on the splashy launch parties and more on developing an actual product with their seed money. It’s a hard lesson for dot-coms to learn–even in 2008, inexplicably–but it certainly makes the Google News hits a bit less ulcer-inducing. [Silicon Alley Insider]