Forum Moderators: open
Personally I'd say forget it and build up a quality site on a domain of your choosing for it's name relevant to your project. The PR benefit is only going to stay as long as the Webmasters of the sites passing the PR on don't notice the site is now under new ownership anyway.
Taking on the domain would only be a quick fix, you need a long term strategy to getting good rankings, not a quick fix high PR domain.
Cheers,
Nigel
<added>Welcome To WebmasterWorld</added>