Think of it this way, the renewal costs $7 to $10. Is there a
better name you can reg, or something better you can spend
the money on? If not, renew it. If yes, spend the money elsewhere.
To me it's a tough call, it seems like a decent domain and term.
Then again, renewals are cheap.
Another idea, if you're going to let it drop anyway, try selling it first
in the sales section if you have enough time left.
good luck!