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Short domains tend to get more type-in and memory traffic with the exception of the use of "Free" on the front which has tremendous pulling power.
It's clearly easier to brand a shorter name, again with a couple exceptions.
It also depends on the useage.
For example:
CheapUsedCars.com has certain advantages over UsedCars.com.
I think the real cutoff is when you go past 3 words and its remarkable how many people register 4 and up domains thinking they are going to be great moneymakers.
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