Hi Siyab
I guess it depends on the type of site but if it's mostly content based I usually optimize and promote immediately. Unless your site is obviously under construction there's no need to call attention to that, especially if the content you do have can stand alone. In fact I read you should never put any under construction pages on your site. If certain pages aren't done then remove the links until you have created the content.
Even if your site isn't finished just go public with the content you do have and just make sure it looks complete with what you have. No one will know anything is missing unless you announce to them you are still working on it. That's my opinion.
If you think about it, most sites are a continuous work in progress.
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