The idea is to shorten the URL, so you can post it wherever you like, without posting gurt long ones.
If you work on the interface and make it look nice and web 2.0-y then you would have a solid website. Once you do that, I recommend digging it. You are a worthy competitor for tinyurl.com.
I'd make it more compact and web 2.0. You can put all the info and the logo in one column of about 400px.