Ask HN: advice on .io domains

I'm considering using a .io domain for a new project. In light of the current .ly scares, I thought I'd ping the HN community to see if anyone has experience with the .io TLD and could provide some insight on working with the registrar, SEO issues, and reliability.

I'd especially like to hear from HNers working at a popular .io shop (e.g. drop.io).

Thanks!