One thing to add here is that the non-nerd market often will not use the address bar at all so it arguably doesn't matter if you're .com, .net or .ly - as long

One thing to add here is that the non-nerd market often will not use the address bar at all so it arguably doesn't matter if you're .com, .net or .ly - as long as you're high up in Google. I've asked clients to type an address into the URL bar and they've typed it into Google - can take a while to debug issues like that!