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To actually add value here :-) - I have a web site with a domain like widget-foo.com. I also registered widgetfoo.com and 301 redirected that to the hyphenated site. I have absolutely no ranking problems doing that. Hope that helps.
p.s. I hyphenated because one part of it was an acronym and I wanted people to see the distinction in the words and make it easier to remember. I doubt I get much type-in traffic anyway.
It's been my experience that SEO-wise the hyphens don't make a difference. Pick the one that's easier on the eyes and redirect the other domain to the main site.
[edited by: Swanny007 at 8:24 pm (utc) on Mar. 12, 2008]