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$750 is a decent bid. I personally would sell since its a great return and you only had the name a few months. No work needed easy money-I would not develop. Focus on generic names to develop. Don't worry about them sueing you, they would sue me first.
Sell. Be careful with a counteroffer now that the buyer could have read this thread. He/she may not care but if a counter offer is made, it gives them the option to back out of the deal.