MillersCrossing,
Step one: Decide if you have interest or passion in the subject matter. Do multiple Google searches on "stopwatch" with other words "speed,sports,racing,barrel Racing,rodeo,olympics" etc. Maybe a particular niche will excite you.
Step two: Decide! Just decide that you will or will not move forward with development of the domain. Listen to advice you are given, weigh it out then move forward or not without second guessing yourself.
Step three: If you do decide to move forward and have found the niche supports adequate fans, products and advertisers, then make the business more real to yourself tommorrow than it is today. I suggest getting a logo done through a contest here at Name Pros. Then get your domain name hosted with email and your new logo up with a sign that says "Opening Soon", I did one today
www.RawDoggy.com . This will also alleviate any jitters when it comes to soliciting content or investors and it adds value to the domain.
If you take those first three steps then we can talk about the next one and the one after that. We may not all agree on what steps need to be taken in what order but I think in your case these first three are the right one's. Also, I would feel free to PM me or any number of others on the Dot Tv board for advice on potential regs you are contemplating before hitting that buy button. Stopwatch.TV has potential but that last one, throw it back if you can, Placebo.TV ???? There is very little reason even a drug company would even want it. Speculating in dot TV is fine but has little in common with speculating in Dot Com. Just remember that when you come across a one word unregged dot tv, ask yourself, how does this translate to content that can be viewed on video,television,iptv, or a broadband channel. To me Placebo.TV does not pass the smell test.
Heck, I just found one writing this that could be better OpeningSoon.TV, restaurant reviews,new business launches,new resorts and hotels,residential developments?? It is available if anyone is passionate about travel and checking out new hospitality businesses. I can "see" short form video coverage presented of hundreds of new hotels and resorts worldwide, and I believe you could get those businesses to pay you a monthly fee. Plus your travel would be tax deductible. That is the kind of reasoning I believe is needed in the dotTV niche. Hope this helps.
Cheers!
WineGuy