It's a great promo idea I would agree... but I think you're really limiting it to a handful of interested people who can send 10 or more joins per month.
For a heck of a lot of webmasters, that's a lot of joins to send to one program.
I am sure that that could be a lot of joins to send to an established program, but this is new, and it is extremely easy to sell. $29.99 for all you can download? It seems easy to me anyway.
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