The .biz TLD is a fairly new domain. It went into full "live" status at the end of 2001. The idea behind .biz is to make your domain known as a business, and only a business. .com got so saturated with personal domains, that it has become nearly imposible to get the name that you want registered. .biz is a restricted TLD. This means if you are not operating a business, you can't register a domain. As of January 2002, there are already over 500,000 .biz domains registered.
So what are you waiting for? Register your domain name today, before it's too late!