I think you do or you wouldn't have bought it! IMHO funny thing about domain names is that what may seem a poor name to many could well end up as a good name because of the use the name is put to. Just what does GOOGLE mean? If years ago, you had posted that you had bought the domain name Google and asked if people thought it was a good name, I guess not many would have agreed! However, likewise there are many fantastic names out there that have been registered but are not being used. A name is just a name, put an idea to it and it becomes more, implement that idea and all of a sudden the name becomes GREAT! Good luck, as I say only my 2cents worth.
I might be selling it. I don't know what to do with it. One of the larger recipe sites might like it.
i checked with overture gotrecipes found no results as two words no results got - got 1360174 search results recipes got 11866 search results the lower search results i think are better because it will rank your page higher in search engines.
I agree with everyone. It is a good domain and I suggest you develop it, but do something unique with it so it's not just another recipe site.