1 in 29 is decent for cold traffic for what you're selling in my opinion.
Don't be satisfied with it though. Now it's time to start testing elements and approaches. Download Ryan Deiss's 43 split tests and use that as a starting place to know what elements to test (also learn how to use google's website optimizer or similar tool to speed up testing. That's also explained in that download I think. It's easy though).
Cheers
Like someone said, wait till you have a ton of hops to get your real conversion rate (law of large numbers), and test test test. You have nothing to lose by testing and reverting back to the old format if it doesn't work out.