With .com, development certainly helps the value of your domain, but it is not always necessary when you have a premium name. With .cc, however, if you are expecting to get anything more than low $xxx for a premium keyword, you should probably at least try to develop a site. I own avatars.cc, and I'm sure I'll be able to sell it for at least high xxx when I get some more traffic, but that's because I developed it. Nice keyword though!
Put a Gay dating site with some affiliate, who provide free database on profit sharing basis. Then promote it in your signatureon related forums for traffic and sell it. I am sure you'll get xxxx as soon as you start making small regular income.
Yeah make an affiliate site for this, and market it into Google and like the others said, it'll be automated and you can make thousands of it