This link might help as well...
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Posts made by tgraham
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RE: Url with hypen or.co?posted in Intermediate & Advanced SEO
According to the book The Art of SEO, my personal SEO bible, if you're not concerned with type-in-traffic, branding or name recognition, you don't need to worry about this. However to build a successful website long term you need to own the .com address and if you then want to use .co then the .com should redirect to it. According to the book, with the exception of the geeky, most people who use the web still assume that .com is all that's available or these are the domains that are most trustworthy. So don't lose traffic by having another address!