I bought a domain name (actually, the big three) for a phrase that would be instantly recognizable on HN, with the intention of using it for a weekend project. Halfway through the weekend, before it was publicly accessible, I got an email from a chap in Italy saying it was his heart's desire to use that name for his software company, and could I please give him the domain name.

I'll mention to you what I mentioned to him : if you have hearts desire, you can afford $10 for a reg fee the SECOND you think of that domain name. (This is why I routinely buy them for weekend projects.)

But I am a softie for small software companies, so I made him a deal: I'd keep the domain pointed at his DNS servers for a year, meaning he gets 100% practical use out of the domain. If, at the end of the year, he had a software company active on the site, I'd transfer it to him gratis. If not, I'd keep it.

I think that everyone wins for that, except my weekend project. (Sure, I could technically screw him over, but I value my reputation far more than my domain names, even a pretty nice one.)