re: investor dilution vs bootstrap: this decision is about what kind of business needs you have for your expected growth and time to get to cash flow positive. It sounds like a technology business, it sounds like it will be a while before you will be self-sustaining financially, and it sounds like you have a good amount of development, biz dev, and marketing needs. Probably you will needs investors, and probably VCs. On the other hand, if you have committed customers who are going to pay you (maybe even up-front?), then maybe you don't need it. However, 6-12 months is not a lot of runway, and please do not underestimate how much of your time and effort you will be devoting to fund-raising. Actually, you should get started now, and count yourself lucky that you already have that much runway.
re pt 2 -- it could work, but what is the other 55%? all you? what are you going to use to give to new hires? You need a pool of shares for that. You can do it the way you suggest, but you'll be doing more board-level paperwork more often to create shares for the new hires as-needed. You could (as I have done previously) create, say, 10 MM shares, give yourself 20%, your cofounder 15%, and the rest is pool for new hires. (take those specific numbers with a grain of salt -- but you get the idea, I'm sure). You'll probably need about 2-5% for VP-level hires eventually. And maybe a similar amount for key early employees (e.g. an architect-level position, if you do that). Also, consider the time investment of your co-founder in making that decision on the split; it sounds like they are not going to be 100% on your project?
Certainly at least if you're going to take investors, you are going to need to put everyone on a vesting schedule, including yourself. If your employment agreements (which you will have as well, weird as it might seem) have unusual non-dilution, acceleration, etc, clauses, the investors will make you undo those, so it's best to stick to common industry practices so they'll take you seriously. Anyway, as soon as you issue your and your co-founders options, immediately exercise them all and immediately file your 83b with the IRS. You have 30 days from when you exercise to do this. Also, you'll want to do this now, so there is no 'spread' on the option value (no taxable event), and because your stock will currently have a par value of say 0.0001 $, so the cash outlay to you is trivial.
re: patent -- if you think it is patentable, you do not need to wait until you have completed development. Also, I would file a provisional first, which is cheap and easy, and will give you a year before you have to convert it to a regular application. USPTO is a 'first-to-file' system now. Actually, I'd do that right now. It will be a good story for your investor pitch to have demonstrable IP of some sort.
OK, one last thing in passing: if you're going to pitch to investors, they'll probably want you to be a C-corp. If you're wanting to postpone that for paperwork/tax reasons, then maybe be an S-corp and convert it when you get closer to taking on the investors, but if that event is going to be in the next 6-12 mo, you might consider just doing that (c-corp) now. Maybe.
Good luck, sounds exctiting!