This is one of those fuzzy areas. Google claims keyword in domain name is dialed way back, but webmasters still see it creating a strong advantage. The challenge in analyzing this effect is in sorting out the influence of backlinks with the domain name used as anchor text.
My own experience is that keyword in the domain name is only a small help - but it is definitely a real help. Since it's an important keyword, there are bound to be a lot of other relevance signals around that keyword on the pages of the site.
Then there's the user data possibility - keyword in domain name is going to draw user clicks, and that could indirectly help the site rank better, too.
Thanks for the info everyone. It seems's to me that it is still important and although we don't have our main product keyword in the URL I feel that other factors (content, etc...) can help. We come up right after out competitors in the SERPs, but I doubt we can achieve a #1 position.
I've always felt that the boost from a keyword in the domain name is in fact due to the "company" name which appears in inbound anchor text. The boost is not from the domain name itself.
Also, it should be noted, some keywords in a search query are more competitive than others, so you might see a rankings boost from some company name/domain word matches to a desired query, but not from others.
Additionally... whether the domain is a clunky kwd1kwd2kwd3.tld domain, or is a keyword domain name that also has a lilt and can become a brand is, I feel, an important consideration.
And "other factors", of course, always enter into it.