I think of virtual real estate just as I do "real" real estate. Vacant land in the real world does not make you money, it cost you money. The same theory should be applied to the virtual real estate. Can the domain make me money today? Can you flip the domain fast and make money?
If it is a "kick ass" domain why wait to the future to make money? Develop the site today and make money now. From my experience it not hard to make enough money to pay for hosting fees and have enough change to then put petrol in the car.
If it is truly "kick-ass" why would you wait. Would Bill Gates wait?
Nice theory there But just like in real world price of an 'empty' plot increases by time (leaving exceptional situations) a parked domain too will get costlier if it's 'that' good. (But of course a developed land and a developed site will fetch you much more!) Don't you think this too is true?