If I put in shortened URLs into Safe Web, it only checks the first level site, not the site I would eventually visit if actually entered the URL into my browser. For instance, if I check: bit.ly/12345, it checks the bit.ly site, not the 3gp.fm site that the link actually goes to. This gives a false sense of security about these types of URLs.
Even better, Safe Web should show the security rating of all the forwarded sites that one might encounter if they just enter a URL. So if bit.ly/12345 goes through six other sites automatically on its way to 3gp.fm, it should rate each of those intermediate sites as well.