I have to disagree with Michael's rewrite. I don't see that all the facts are included and I feel it gives little to no detail.
Opcis - about your revision.
HeadlineMuch better. I'd just tweak it to say, "New Search Engine Makes Finding Quality Domains Easier."
SummaryOK, now. What's your focus going to be? You start out with a headline about finding quality domains and then go into summary that talks about selling them for thousands. Do me a favor an just drop the summary merge that info into the body of the release. OK?
BodyGood opening, but let's rearrange some sentences.
QUOTE
As competition on the Internet intensifies, more and more people are actively looking for a quality domain for their site. With over 30 million dotcoms registered, a good domain is increasingly hard to find. DropListPro.com has developed what is known as an expired domain search engine, which gives users the ability to easily search through millions of expiring domains scheduled to come back on the market. While there are over 20,000 domains being registered each day, most people don't realize that there are also just as many expiring. After a domain expires it may be up to three months before it becomes available. DropListPro.com shows when these domains will re-enter the market and how to acquire them.
The changes I've made are in bold.
It's not illegal to say your company name or what you do. The reporter has to know that information so he/she can write the story. You will notice, however, that superlative words/phrases like "perfect" and "unfortunately for them" have been removed.
Second ParagraphThis sentence has a typo:
QUOTE
find a needle in a haystack then find what you're looking for.
Not bad for the 2nd paragraph. The quote rambles a little, but it does give enough text for a reporter to pull a decent sound bite from it.
ConclusionOops! You don't have one

A good way to close is to give contact information again and instructions. For example
QUOTE
A demo of DropListPro.com's expired domain search engine (this is not capitalized, by the way) can be found at ____________. For additional information or to schedule an interview, contact Chris Richmond at (xxx) xxx-xxxx or via email at chris@whatever.com.
Then put your ticks (### centered underneath the last paragraph) to show that this is the end of the release and you're done. Oh, and
have it professional proofread. You don't want grammatical errors leaving a bad impression.
That's my take on the situation.
As for Sunday being the best day to send it out. Not if you want to reach reporters, it's not. Reporters come in on Monday to an inbox stuffed with all kinds of stuff. They're are deleting faster than you can blink an eye. I'd send it Monday, Tuesday or Wednesday so they'll get it Tuesday, Wednesday or Thursday.