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Consider, who would buy it?
A reseller might and it might do the merry-go-round of domain sales.
It could be sold to one of the existing domain parking companies but would they want it? Unlikely but if they did - jackpot!
PPC or develop it if you can use it productively - on the surface it's a great name but the .ws kills its potential probably more for this name than for many others.
Depending on the purpose. If you wish to "sell" services then I would say no, as it's hard to build a strong brand in a cctld webspace. If you intend to offer info, suggestions, tutorials etc, then probably yes.
I'm running a site on a .ws and have been earning a steady income off it, then again I am listed #1 for my search term which is directly related to my product.
If you can get good positioning in the engines I see no reason why you cant make a few $'s as well.