Youtube’s URL shortner ? Not exactly but yeah

After Google and Facebook, YouTube has jumped into the URL shortening war but with YouTube it is just little different. Like for Goo.gl we have extension and you can shorten any url with YouTube URL shortening service ( Youtu.be) it only works for YouTube Videos.
So if you

• have a YouTube url like http://www.youtube.com/watch?v=H-WXEWbPMYc
• it can be shortened to http://youtu.be/H-WXEWbPMYc
• and it will resolve into http://www.youtube.com/watch?v=H-WXEWbPMYc&feature=youtu.be

The bold text after v= in the first point is the key which needs to be appended to http://youtu.be/. ( Tip : Dont put a www after http:// and don’t put a forward slash after the key, it wont work and YouTube team should have it fixed )
And I would be happy to see this short url right where they give link to share the url with others :

So what do you think ? Like it / Hate it or not sure how to use it?