How do you establish yourself from other established players in the market like Blue Nile? The site looks nice, but it also looks like most of the other jewelry sites out there so it makes it tough for me to think I'd use this over someone I've used before and is a known quantity.
Gemvara is now the world's largest selection of gemstone jewelry and every piece on the site can be customized (change the metals, change the stones/accent stones, accessory metals)
I like how the customization works. The interface looks clean, and easy to use. I imagine most women would enjoy a piece that is uniquely theirs. I expect I'll be heading to your store the next time I'm in the market for something shiny.
As a side note, your availability of non-diamond alternatives may be a good selling point for the growing number of people who dislike the diamond industry (http://news.ycombinator.com/item?id=1109318). You might want to think about highlighting these alternative, more ethical choices.