I wouldn't be put off with a TM issue. Main thing is *not to make it live in any way* -- keep it parked. I had a slew of Royal Mail names back in 1998 - Royal Mail gave me ã2000 just to hand them over and save a load of hassle. These TM owners should be watching their own property anyway. I know that's a controversial point of view, but it's always worked for me. Not for the faint hearted, but someone will buy it at some stage if you keep punting it -- someone with the audacity to make it live, get some traffic to it and wait for the C&D, and then a grand or so to them to keep the scheisters' fees minimal.
Of course it doesn't ALWAYS work like that. Many TM holders will pursue you regardless of cost.