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I think overall the market is not really where I expected it to be when I started doing this nearly 10 years ago - irrespective of a recessions.
Stephen.
In reference to the UK market, (against the Gtld's) that's a very fair assessment. I entered both markets as an investment opportunity, with equal weighting, 13 + years ago. Joining Acorn just 4 years ago was my wake-up call in regards to co.uk's.
Given the yearly domain costs are fairly compatible. The sensible approach for pure forward looking domain investments, was and still is trying to stay ahead of the game in the Gtld market.
Sure, I wish I had got into the development game but that being said - don't think I could have taken the strain of battling the 'Google Metrics'