How important is your own domain for ranking

I know there a couple of threads on this topic, but they are all outdated. What I'm wondering is if it is still possible to rank a web 2.0 property (like squidoo lenses) competitively. So far I have concentrated my SEO efforts on ranking an authority money site with a unique domain but now I'm interested in some smaller efforts in affiliate marketing. I'd love most to hear if anyone has personally successfully ranked a web 2.0 property for at least a medium competitive keyword.

I have actually recently seen many Web 2.0's hitting top page rankings. I don't know if its this crazy panda update, but I know as of right now, yes it is possible. Some guy I had seen make over 1 grand from a web 2.0 within a week or 2.

I got a squidoo lens to page 1 with a medium competition keyword without really focussing on it too much. I did some good on page SEO and bookmarked it to a few places then moved on to the next project. It's actually now sitting at number 1 for that keyword and has PR2! The authority of these web 2.0 sites definitely helps. I haven't backlinked it any more for the risk of it dancing as it seems to be firmly rooted at number one. Will keep an eye on it to see what happens.

I've also made quite a few clickbank sales from that lens with the product I promote. Answering this post has made me think I should probably spend more time with that page to improve CTR and conversions!

I'd say give it a go and give it some time to rank.