I found out Google does not really treate it as a country tld. It treats .co as a global domain just like .com or .info
There have been talks on forum threads and blogs regarding what Google actually thinks of a .co domain name. Many have argued and said they would wait until until an official confirmation is given out by Google.
Why wait ?
I have the proof here. Checkout the image below. I searched for the term likey and what do i find on rank 1 ?
I know it is not a competitive term or anything but still. Google chose .com over .co 🙂
Checkout screenshots for both the sites below. Likey.com even has a PR2.
Out of all the registrars i think namecheap is giving out the .co at the lowest price. You can try godaddy if you have a coupon otherwise click below to go and get a .co domain now !!!