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"I am planning on setting up and aim icon site or just selling the domain. What do you think it is worth."
Allow me to post my honest two cents here! It is very likely that "AIM" has a TM by Amercia Online. It really doesn't "flow" well ... and, to me, it almost looks like "i am an addict .com". Very, very low valuation considering these (potential) aspects, in my opinion. Good Luck.
"AOL hasnt asked to shut down these sites and i dont think it would be illegal to run mine."
Fair enough. But, perhaps you should seek opinion and comment here at this site in the "Legal Issues" area. Then, again perhaps, you may be able to find out for sure BEFORE proceeding with the development of your site. Good Luck.