Yes, I guessed it will be more. :(
How much do you get with the free version of Liquid Lens?
So far this hasn't been true though. Currently IAP revenue from the free version tends to be about 1/3 the revenue of the paid version even though free app downloads outnumber paid by at least 10 to 1 on most days. It does seem like IAP has been ticking up a bit over the last few weeks though. Maybe people have to play with the app for a while before they're willing to pay for it?
Personally I'd prefer to just do paid apps, since adding IAP + store transactions adds a fair bit of work.