Hey Pro, My experience is that a short domain is good for the following reasons:
1. Easier to Remember
2. Less chances to be misspelled
3. Better Resell Value: It means more things. any combination of a 2, 3 and 4 letter domain names can be an acronym for many things.
4. More Markatable. A quick read domain is especially important for certain kinds of media what you really only get 5 to 20 seconds of attention.
5. More Readable: Let's say you have a business card, your firstname @ yourreallylongdomainname will not fit as well as something shorter.
I personally have never sold a 2 or 3 letter domain name, from my experience we're talking minimum $10-20K for 2 letter and $5K for 3 letter because of the value that I described above.
Do you have a short domain name you'd like to sell or buy?
LOL @titly55, are you copying and pasting this from a domain site about gambling. who said anything about gambling?