I stumbled across a LaunchBar (4.0beta) feature today.
As soon as a '.' is entered, LB presents a text field with an 'Open Location' label. Subsequently, entered text is interpreted as entering a hostname with ".com" on the end. Hit a second '.' and LB erases the .com and assumes you are entering a fully qualified hostname.
Furthermore, the arrow keys (and emacs editing keys) can be used to quickly override the automatic behaviors of LB.
Nice attention to detail!