Much of Rackham's problem came from the rules change they made to Confrontation. Confrontation went through several rules revisions to the point that they actually had a very good game that was well received by their following. Unfortunately they went one revision to many.
Their next revision dropped several aspects that were unique to the game while at the same time announcing that they would be moving to round bases instead of the square ones. You would have to have played the game to understand the significents of that decision. Both of these changes went a long way in alienating much of their following.
At my LGS, at one time there were a dozen or more regular players every Saturday with tournaments every couple of months that pulled as many as 30 people from Buffalo to Boston. As soon as the latest revision came out, everything stopped overnight. I now haven't seen a game played in the store in over 3 months with sales just as non existant.
I've heard reports of the same thing in other stores.
This had nothing to do with prepaints but with rule revision taken too far. Was it the cause of Rackham's problems, don't know for sure, but if it was as wide spread as I believe it was, I bet it didn't help Rackham's position.
Adding to the problem, the initial release of AT-43 didn't contain the full rules of the game. The box set contained an extremely dumbed down version that is missing many of the tactical elements. This more than the prepaints put off people who didn't want to buy in until they new what the full rules would be like. (myself included)
Now if that wasn't enough, Rackham has had the same problem meeting deadlines as Mongoose has had. And we know what that does to your following don't we! They also initially started with two factions just as SST did leaving people holding off until they saw more committment to additional factions. With Fantasy Flight Games now their US distributer, that may change. If the Karmans are as good as the pictures suggest, I suspect there will be a surge in new players when they come out next month.
So don't blame Rackham's problems on prepaints. It may turn some people off, but all you have to do is look as sales of D and D, Star Wars, and now Halo Action Clix to see that a prepainted miniatures game can be a very successful game. If the game is good and the miniatures are AVAILABLE, the game will be played. But as in Confrontation, a game that isn't enjoyable, not matter the quality of the sculpts (and you have to admit that Rackham's have been amoung the best) nobody will play.
Sorry for the rant.