Since the OP is away right now and launch is getting closer, I decided to post the block rewards that were decided on. No instamining.
int64 static GetBlockValue(int nHeight, int64 nFees, uint256 prevHash)
{
int64 nSubsidy = 1 * COIN;
// Pre-mine two percent
if (nHeight == 1) nSubsidy = nPremineAmount * COIN;
else if (nHeight <= 1050) { nSubsidy = 1.57079632679 * COIN; } /* 1050 */
else if (nHeight <= 3150) { nSubsidy = 3.14159265358 * COIN; } /* 1050 * 3 */
else if (nHeight <= 6300) { nSubsidy = 9.8596 * COIN; } /* 1050 * 6 */
else if (nHeight <= 9450) { nSubsidy = 19.7192 * COIN; } /* 1050 * 9 */
pi?

That is by design

Right, and this is our flat reward scheme that should have a flat rate payout of around 3.1 for the majority duration of the coin. The coin should not be fully mined until the year 2020.
To answer the above question, that is why the valuation may seem high, as the initial supply is low and you are investing in dividends and the Price-Earnings Ratio (P/E Ratio)