Yes, and I've done exactly this. That doesn't ease the discomfort at losing an email address I've had for around 17 years, or change the fact that Google knows me best by that email address, as do many open source projects, mailing lists, and real live people.
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I've been email@example.com since 1994 or so --- maybe a year or two earlier than that. You know what I'm worried about most? All those open source projects, emails, and other digital resources that point to firstname.lastname@example.org are going to be pointing nowhere in a month. It feels like my online identity is being stolen. Except it's not being stolen, of course --- merely recalled.
io.com was bought by prismnet.com years ago. PrismNet changed hands a few times. The last guy who sold it to the current owner (for $20) didn't sell the io.com domain. He kept it but let them use it---until July 1, 2011.