(Great question. I'll +1 you when I have the ability to vote.)
There's another reason to accelerate your writing of, say, five or six good articles up-front: You are much more likely to be indexed by the search engines if you have more than a single page worth of interesting, unique content. Even if the Google bot visits your site after you submit your link to the index, it may still decide your site is not worthy of indexing. Build out good content – and get some links to your site.
But, back to the human perspective:
I also think it's important that your new blog doesn't look too obviously as still under construction. In other words, it's not just the content that people will be looking at to decide if your blog is worthwhile! If it looks like you put some good work into making your blog look appealing, you're also shifting odds in your favor that you'll win a subscriber. Whereas, if your design is incomplete or half-assed, five good articles might have trouble making up for the first impression on the design side.