I don't think Manwin and Hustler have a leg to stand on as far as registration of any domain name. Anyone can register any trademark domain they want. The fact Joe Blow registers pepsi.xxx means little if the domain remains dormant.
It's what the owner does with the domain afterward that creates the problem.
Paying $200-300 as a one-time fee would be much less costly than recovering a TM domain. It would be a 'no contest' win for the trademark holder but it would still be quite expensive.
Seems like a form of extortion by ICM.
