I did see the related question
How do you know when an interface is complete - Though the answers in this question are very interesting,they are more from a product management perspective of what to keep and what to ignore with regards to a finalized product.
But can we really determine when a product is finally usable ? Is there a defined parameter like "90 % of the users found this usable" or "All the associated heuristics which are applicable to this application are satisfied" or "All the potential use case scenarios were accounted for with the user using the optimal path as opposed to using the alternative route"