I buy most of my names through NameCheap, and have had no problems, whatsoever w/ them. They are good people, IMHO.
There was a recent thread that discussed this subject and past threads that delved into the matter. In a nutshell:
1) A devious little sh~t, (or a big dumb sh~t), that works on the night shift, is scanning internal whois searches and jumping on good names. This is possibile, but it is doubtful that this is a widespread practice.
2) Millons of people are searching- information is universally available- ideas occur spontaneously in two seperate parts of the world, only minutes apart. Although I have missed names by minutes only on two or three occassions, I am continually in awe of how many names I come up with that have been regged only a few days earlier, and I work alot in the made up-branding genre.
The best way to avoid 1), is to do searches using external whois search engines and not search using registrar's internal whois. The only time I do the search through a registrar's site, is when I need to check the contact info on a regged name.