I am hearing mixed signals right now. I think it will be better to go with a brand able domain now since if anything goes wrong the domain can be used for other things.
OK, here's the deal:
EMD can be great, if it's VERY specific to your niche. E.g. if you were to be selling dog food, then dogfood.com would be golden. Then of course, if you were targeting a longtail term like 'x brand dog food in x city', then getting an EMD just for that one COULD look spammy, yes. But IF it looks spammy or not depends on how you handle the site. I.e. if you actually make it into a useful, informative, engaging site that pertains to that exact topic, keep it updated etc, in other words make it a REAL site, then you could do well with it.
Brand domains can be harder to rank, initially. In terms of SEO, all other things being equal, an EMD beats a brand domain any day of the week. However, you CAN rank brand domains for a variety of keywords, if you give it some time. As I said, it may take longer, but over time it does turn into a brand. That being said, in order for it to actually turn into a brand, you need to keep it updated and provide useful content that makes people come back. If you only wanna slap on a few articles and rank for 'accident lawyers' then you're probably shit out of luck. That site will never turn into a brand and it will likely never rank for anything, other than the longest of long, long, long tail keywords.
What it comes down to is what your intention is, with the site. Do you wanna rank and bank, fast? Then EMD is the way to go. Do you wanna create an engaging, useful, informative, long-lasting site? Then a brand domain is the way to go.