I think there's a lot of steps you can take to get the most out of the press you get from a launch. I think it's one of the easiest ways to get press.
I've been TC'd once before, and it hit us at the worst possible time- a temporary banner was up for the hours before launch. That banner got more attention in the article than the service. The site held up fine, but >80% of the traffic was wasted. I think this is a pretty common phenomena.
If you can do 50 reqs/second you will be absolutely fine; it doesn't take any kind of special server.
We get more traffic now on a regular Monday morning than TechCrunch ever sent us. Their influence is greatly overstated.
But doesn't being TechCrunch'd help your googleability/google page rank?