buckworks - 8:51 pm on May 13, 2010 (gmt 0)
Yes, there would be value, although it's hard to quantify.
SEO-wise, there would be more value if you could obtain the domain before it actually dropped.
User-wise, could you redirect the traffic to other content that would be relevant enough to make sense to those visitors?
If yes, and if you can get the domain for an affordable price, I'd say to go for it.