SevenCubed - 3:57 pm on Jan 27, 2013 (gmt 0)

However on the down side, Google considers anything over one hypen as spam

False.

I have numerous 3 word domains separated by hyphens. In fact it's my preferred choice of registration even when the non-hyphenated name is available. None of them have trouble at all ranking on page #1 for their terms (local search). One of them suffered a -10 a few months back when there was an Exact Match Domain (EMD) update but I have since managed to recover it back to page #1 with some minor tweaks.

And even still, I've registered 2 more 3 word hyphenated domains since that time. I have no apprehension whatsoever of developing them. They are not considered as spam if properly developed.

However, the specific case you are asking about, IMHO, I would say is totally unnatural and I wouldn't recommend it. That's the key -- whether it's natural hyphenation or unnatural. I prefer the hyphenated versions because it's a better user experience to recognize the words more quickly.