Chit Chat

I'm just curious to see what opinions of others are on this one.....

Say you're creating a new site, it'll be operated as a hobby site (meaning it may have Adsense or similar on it but you're not expecting to actually make any money from it), it's a niche category and nearly every common keyword & phrase domain in the .com TLD is already taken but... it turns out that you can pick up a desirable domain that would be easy to remember and would likely get some traffic from people just randomly trying the domain interested in the niche with one little caveat: the domain price you could get it for is likely underpriced if you were to do the project as a commercial venture but is way out of the budget for a hobby site with no revenue expected.

Do you bite the proverbial bullet and pay the high amount for a great domain or keep it grounded and spend as little as possible on the project knowing that the backup domain, while short & easy to remember, is not as desirable for the...