Much like .tv I think .ca really needs development right now to make the domains worth more, obviously the regulation really hurts when it comes to reselling...
But, there are some really good names available and with proper development they can be very successful, I grabbed a new one yesterday and am planning a site (i will hopefully post more details later)
The big thing to remember for us Canucks is that we are a pretty free-spending culture, and most of our online shopping has to be done on American sites, so the opportunity to develop good Canadian based e-commerce sites is still very viable...
My New Years resolution is to have a full online store up and running for 2006!