This does point to at least a small downside to "wrap-around" urls like Bit.ly: ...

joe_the_user on Feb 19, 2011 | parent | context | favorite | on: What will happen to Bit.ly links when Gaddafi shut...

This does point to at least a small downside to "wrap-around" urls like Bit.ly: you can ignore the semantics but who guarantees the semantics will ignore you.