In my experience the relevance of inbound link anchor text is not decreasing and in my opinion is most unlikely to do so for domains with one or two hyphens.
bluewidgets.com
If then, in Yahoo, I search for blue+foo+bar (where foo and bar are enough to single out my site) then the listing appears with the domain name highlighted kind of like:
bluewidgets.com
... so I think you'll be ok if "blue" and "widgets" are commonplace in their own right.