http://www.freedomain.co.nr

It's a free sub domain thing that looks like .co.uk so it's easy to remember. Hooray.

They put no advertisements on your page, but you have to put a little button linking back to them on the home page.
(I'd recommend putting it in Board Wrappers > Footer)

The domain www.evolution.co.nr is currently suspended, so I'm not sure if you could use it. You could probably use something like evoforums, evolution-forums, evo-forums etc.

Good idea / Bad idea?

why not just pay the 8.95/year at godaddy.com for the .com?
not like anything is being paid for on here, i mean the forum is free and everything...
(can't you get 1.3 forums for free... not on invisionfree?)