Ask HN: Should we raise more money?

I am in my first round of funding and about to close it.<p>Background: We are working on the project since 1 1/2 years, 4 founders - living in different cities<p>Status: Prototype - ready for launch approx. may 2012<p>We have 2 offers from angel investors:<p>1) 10% - 140.000 EUR Really good Angel, has perfect network and experience in our field of business<p>2) 3% - 42.000 EUR Is a privat person - medium network and expertise - more "dumb" money<p>Our expenses for the next 12 months are at least 115.000 EUR<p>If we would move together and live in a appartment together in berlin, it would be 133.000 EUR<p>We plan to launch in may 2012 in cooperation with some of our clients for beta testing (no revnues).<p>We plan to make our first buck in october 2012.<p>Questions:<p>1) Whats a good way to calculate the amount of money needed - e.g. expenses of X months + ??%<p>2) What should be the end of our current runaway and current goal to raise the next round - launching? revenue? growth?<p>3) is it very negative to have small angels invest in you with just 3% shares for further funding rounds?<p>4) Is living together worth the money? (2000 EUR/month)<p>Thank you very much for your opinion!