eh, do it.

Like buying twine, you will use it eventually.

Having my own domain made me happy.

Eh, do it.

$10 a year really isn't much, and you'll end up using it for something or other. Having an awesome domain name that you really like makes it even better.

Extra domain names can come in handy. I'd say buy it. If you don't come up with a use for it in the next year, let it lapse.

(After you buy it, please tell us what it is!)

I have four, two of which are my own name, two of which are others. Check out Domai.nr. It's a great way to find domains.

I bought one a while back. I've never used it for much, but I like knowing it's there.

Your own domain and site gives you the ability to host material to which you don't want your University to claim intellectual property rights. Despite the "custom and practice" claims of intellectual property (IP) rights to one's own research and teaching ideas, Universities are increasingly eroding IP by claiming rights to materials produced for online classes and for research patents produced using University facilities.
It's not as simple as the domain name - you'll need a hosting service to maintain this independently of your University. I would definitely recommend Dreamhost.com - they provide excellent (and friendly) support, don't mind if you have idiotic questions, and you can get a reasonable economy of scale if you contract for multiple years' hosting. But it pushes the price up from your $10/year somewhat.

has my life become enhanced by my website ? probably not in any significant way, but i just renewed it for another year so i can't be all that bad

I know a couple professors with their own domains that they use for both professional and personal purposes.

Anyway, I agree with box: have one, don't use it, but like having it.

Nope, but it's kinda fun having one even if you don't use it (anytime soon -- who knows, perhaps you will), and $10 a year is totally justifiable for "just kinda fun." I mean, I spend that much on my DAILY commute, and my daily commute is kinda like ((just kinda fun) * -1)^10.

Just one?

If I still had a career, I would still have my own domain.

I confess, I have wasted up to $200 a year on domain names I haven't used, and keep renewing them to keep just them out of the wrong hands. I've tried selling some of them without much luck (and remember when I couldn't even give away MetaCats.com?).

Still if grouse or any other bunny have a good use (and the time to do it) for
Aardball.com
Blogheads.com
ClownsAround.com
FactsAboutYou.com
JokishPoll.com
LinkinLog.com
NewsLeek.com
MurphysLawLibrary.com
StaticKlingon.com or
TalkingWithMyself.com,
I'll gladly hand any of them over, or even host them myself for you. This offer is available until I can no longer afford to renew the domains...

I have three, am using one. I used to use a second one, but got tired of updating. The one I am still using I do manage to earn about $5000/year from various advertising clients. Helps pay some of the bills. I say go for it. You may not have any ideas for it today, but you never know when that brilliant idea will hit you.

I have one based in the .id.au domain that I keep mainly to reserve my name.

I also have a couple of others that I keep renewing as vengeance on someone who done me wrong in a business deal, so I've vowed to keep them out of his hands forever.

Buy it. If you don't, you'll immediately come up with a brilliant idea that can only possibly work with that exact domain and then it will be gone and someone else will make a squillion dollars by having the same idea at the same time and being 5 seconds faster with their credit card.

Ten bucks?!?! I thought it was like $150 a year. I've been on the fence for a few years if I really need to drop that much money, but ten bucks? That I can do. Hell, I might get two.

I know there are a million places to get this kind of info, but that's too many choices - especially with advertising gaming the search results. So can anybody recommend a good source to get started on registering a domain name?

I use Gandi, myself. Never had any problems with 'em, but I've never used anybody else, either.

Go for it. Here are some rambling thoughts on why you might want your own personal domain in order to construct your digital identity independent of institutional affiliation.