A different approach would be Option C... Get the basic/minimum info to start, skip the 2nd step. After some period of time/use, ask them to provide more deta

A different approach would be Option C... Get the basic/minimum info to start, skip the 2nd step. After some period of time/use, ask them to provide more detailed info. You would, IMO, gather some interesting stats from seeing how many people value the product enough to give you an extra 5 minutes of their time and a dozen or so form fields. My guess would be that anyone using the free version regularly and deriving some value from it would fill out the additional form data.