I don't think 12 participants is lackluster at all!! I'm sure more people will come on board - but you do have to have a cutoff at some point.
Why not make the cut off the day the tree is lit in Rockefeller Center? Thanksgiving is just two days away. If you wait another week, you might get a few more participants. But, even if the list stays as it is, try to remember the economy still sucks and one out of ever 10 people is still out of work. I love the idea of the exchange, but I'd be equally as happy to see pictures of everyone's christmas tree, or menorah or kwanza candles or plastic spoon assortment! People don't join these things for a reason. Personally, I'm a card carrying member of the "i won't join any club that would have me as member" club. If more join, great, if not, so be it. I hope everyone has a good time either participating or watching what those who are say about it.
Is there an agreed upon price?? Still thinking of the economy, I don't believe this should be any more than twenty bucks.