Say the money keyword we are targeting is California Widgets. We own widgets.com, our competitor owns calwidgets.com but we are thinking about buying the domain californiawidgets.com (which doesn't rank now but that's because the current owner doesn't do anything with the site).
All these domains are quite old...would it be foolish to just move our site over to californiawidgets.com and 301 our old pages to the new site? If one does acquire a better keyword fit domain what is the best way to use it? Just link to your main domain? Does it not have that much value to start with?
Also, for experimentation purposes we are considering acquiring another californiawidgets.x that is available from a registrar. The idea being that our keyword phrase is so competitive yet none of our main competition is using it as an exact domain...just seems like there may be potential here. The main suffixes .org/.com are taken but a number of minor suffixes like .bz and .biz remain. What's the word on non-.com websites when it comes to SEO?