wp=WordPress? It definitely has potential if developed! Edit: Only problem I see is that the keywords you want are "Themes", "Plugins", "Free Themes", etc., so you will probably need to develop it to get the full value. Good luck!
"W"?? lol , WP stands for wordpress, the world leader in blog platforms. so the whole domain becomes FREE WORDPRESS LAYOUTS . I guess you thought of it as FREE "W" PLAYOUTS !!!
It can pay off only if you develop this name IMO. Othewise, if you find someone who is an enduser & wants to develop. Otherwise, to a reseller, it's worth reg fee IMO.