I don't think it has the potential to compete directly with .com. Having said that just found this interesting piece of info ".gw is the topleveldomain for Guinea-Bissau". For those who have never heard of Guinea-Bissau, The Republic of Guinea-Bissau is a country on the Atlantic coast of western Africa.
http://www.domainname.at/domain_eng_...fba38e3abae5c6