The Right Time to Release

The pressure to get a product out the door can weigh heavily on a product manager. Let me know if this sounds familiar...
    
You've done the market research, you understand your customer's needs, and you've provided the MRDs/PRDs to the development team. The development team has now started working on the product. It doesn't seem that long, but already sales is pushing for the new/updated product to be released and management is getting restless and looking for a return on investment.
   
However, you can't give in to that pressure. Your product being ready is critical to the product's and possibly the brand's reputation. Many of us have the heard the "release early and fail fast" mantra - and I am a believer in this philosophy - but releasing early does not equate to releasing before a product is ready. The first release of a product should be a minimal version that provides the basic functionality to get users on board (Remember the first iPhone was released without a copy/paste feature. After the first release, the development teams then iterate and add features to the product based on user feedback. However, minimal functionality is not equal to broken functionality. Nothing will irritate and drive away your users faster than a critical product feature being buggy.
   
Focus on including the basic functionality into the product and release only when you know that basic functionality works - believe me, you will have a better product in the long run and your sales team and management will thank you (even if they don't say it.)
  
Do you have any lessons learned about releasing product at the right or wrong time?