Ok guys, here is the real scoop on celeb names (and if you would have searched in hte legal section, this has been covered many times).
Registration is infringing on the celebs TM.
Registration alone is not illegal.
It is what you do with the domain that matters most.
Fansites can come under "fair use", meaning the public has a right to use them.
Any sign of bad faith, you crossed the line of "fair use" and "commercial gain". This means, you make ANY money from it, it is no longer protected as "fair use". Fantsites are a labor of love, making any type of revenue is no longer labor of love. (Notice I said revenue and not profit, there is a huge difference).
The reason celeb sites are won/lost is usage of the domain. tomcruise.com won, whyy? it was used in bad faith. Brucespringsteen lost, why? It came under fair usage.
Now let's talk penalties for cybersquatting...
Loss of the domain
Loss of all revenue you gained with the domain
Pay for all legal fees
Punitve damages
Up to $100,000.00 fine per domain
Labeled a cybersquatter which can be used agaisnt you in future disputes.