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Hmm, thanks to everyone for your thoughts. After I posted this thread I found out that the domain sold at auction in October 2006 at TRAFFIC East for $6.5K.
Indeed, Acro. Good point. Interestingly, however, the PM offers I've been getting from this thread don't seem to bear that out. However, these are not the heady days of 2006 (see "burst, real estate bubble"). I would not expect to see $6,500 for it -- especially considering, as you pointed out, it has lost its prime vintage. I do think it retains intrinsic value as a good one-word domain and is in an appropriate niche for its dot-org TLD.
Also of note, the competitiveness of the drop was quite substantial -- an indicator I have often found to correlate to value.
I invest in com/net/org dictionary domains in the aftermarket and unless a dropped domain was in the $xxx range I would not spend four figures on it. As an investor, I place a large portion of a domain's value on its age. Now, is this a domain you'd develop or resell to a firefighter union? Of course. However, as pure "coinage" it's worth less than similar aged domains.