It's my friends site, I just helped him with a few ideas. It started because we both found we were checking the grab a seat site daily, and sometimes forgetting and missing out on some great deals (we didn't know about the RSS feed at the time). So he had some previous web hosting, set up the site and bonza, thats where it sprung from. At first he figured only some of his friends would be interested in using it, but it's turning out to be quite popular.
As for a privacy policy, you can be assured he won't give your email out to anyone. He wouldn't have the time!
The seat information is included in the email you receive. It's just the number of available seats. So for example, an email you may recieve is: Wellington to Papeete price: $ 347 date: 2 Aug '07 - 30 Sep'07 seats: 57. Or something similar to that.
Another quick note, if you sign up to the site be sure to check your junk mail and add grabaseatquick.com to your safe list, as the email messages sometimes wind up in here!
Happy grabbing!