Changes i would suggest:
- Remove as much text a you can
- Give me instructions. i.e. Step 1 blah blah, Step 2 blah blah blah...i need to know what i need to do to make it work for me
- get the time offset from my browser and just pick one thats "close"
- get the timezone based on my IP (best way is to get the lat and long, and then pick the nearest timezone)
second option is the most accurate, but having to scroll the list almost caused me to bail.
The navigation on the left isn't necessary at all.
You also ask for a lot of information from me just to sign up.
Personally, I'm a big fan of the simplicity of OhLife's landing page (http://ohlife.com/) – maybe you can draw some inspiration from them.
The issue isn't really "too much" text, but the way your conveying that text is boring and mundane.
If your going to give "bulletin point synopsis" of information. Make it enticing to read, or simplify your approach all together.
Great design is always impacting, and straight to the point. Your a website you have a limited window of capturing one's attention.