You could also use it in a situation where you're ranking highly for a term but it's not currently showing in Google Suggest.
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Latest posts made by Jenni_HeartInternet
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RE: Tactics to Influence Keywords in Google's "Search Suggest" / Autocomplete in Instant?posted in Branding
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RE: .Co Domains - Any thoughts?posted in Algorithm Updates
Casey gave a great answer, but just to add another point...
Even if they don't get public recognition in terms of appealing to customers and becoming mainstream, generic names like www.birthdaygifts.co have considerable value to domainers and affiliates, so they are definitely worth holding on to even if you don't develop them.
Best posts made by Jenni_HeartInternet
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RE: Tactics to Influence Keywords in Google's "Search Suggest" / Autocomplete in Instant?posted in Branding
You could also use it in a situation where you're ranking highly for a term but it's not currently showing in Google Suggest.