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This has come to replace a previous horrible expression: "Let's run it up the flagpole and see who salutes." Basically refers to an assessment of the potential a product has in the market.
The original 'old fashioned' means of communicating before the internet took over. It involves making a hard copy of the communication, inserting it into a package (often referred to as an envelope) and paying someone to convey it to its destination. The organisation usually entrusted with this conveyance is known as a 'Post Office'.
The name derives from the lack of speed in delivery.