Branding is very important in my opinion, you gotta be able to have some sort of theme behind something in order for it to succeed...
If you have a company named nicecolordesigns.com it would not be remembered as easily as something else....
Look at the search engines for example...
Google...
Derived from "Googol" defined as: The number 10 raised to the power 100, written out as the numeral 1 followed by 100 zeros.
It basicly brands the fact that your going to get TONS of results for your search query, the reason why you see G O O O O O O O O O O G L E
on the search results is playing off the brand of having 100 zeros..
Yahoo.. I could go on and on and on..
XTV posted in this thread.. Fucking awsome branding.. Best damn domain name you could get for a box that puts porn onto your tv... How do you think they would do with a name like "TheLittleBoxForPuttingInternetPornOnYourTV.co m" not so well..
Just my

I think branding is very important.. Not only for a company, but for a person as well.. Everyone that knows who I am in this industry asks "Media where are your glasses?" if I do not have them on when they see me.. It is a branded appearance that people have come to know..