I have the .co domain name, and honestly, I'm thinking of splitting to a .com domain even if it means I lost the keyword rich .co domain I have right now.

I've heard too many scare stories, prior to registereing I posted a question on another forum about it, everyone was saying "yeah google has said it will treat .co as international domain, go for it", and 6 months on I enquire about it and everyone's crying that .co is difficult to rank right now.

Secondly, .co isn't registered by icann, anything can happen. I remember readin a post on lybian domain names .ly that since so many people ar eusing the bit.ly domain shortner on twitter, there is a chance of major trouble if Libya decides to shut down all the .ly domain names

to me .co is really no different than .biz,.tv .etc.
nothing will ever be bigger than .com

nothing will ever be bigger than .com

Can agree here with you.. but there are many other unique domain extensions suitable for running any kind of web sites in different locations.

I own several .co domains and have sold some too. I have chosen to also launch a new business on one. Honestly, I have not heard of any problems with ranking of .co from any knowledgable SEO expert. In fact quite the opposite for using it for SEO/ just google .co seo

Regardless I dont think .co will be ever be as big than .com, but I think its way better than any other ext (.net,.org,.biz,etc) as far as business application goes.

Just my 2 cents,