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Thanks a bunch for confirming this for me, I thought this was just odd and wanted to make sure there wasn't some kind of pertinent reason for using such a technique.

I own a few generic .me domains, they do not have the same level of authority that a .com domain holds but it also depends what type of business you are running. If it is a social site a .me domain may work for example.. look at formspring.me a huge social site or about.me...