95% of the time, traffic is not just going to come out of thin air, unless the name you bought is a typo or something very popular. In any event, your best best is to develop the site, and when I say develop, I do not mean that you have to get an amazing design for hundreds of dollars. Simply a site with good content will help you with SERP's, and if you have $10-$20 to invest in things like google adwords or other PPC programs, that will get you decent traffic.
Also note that using Np incentives and paying for things like Stumbles and Social Bookmarks (like Delicious, furl, etc.) will also get you decent traffic.