Very nice OVT results. Such names are always worth looking into, but not always necessarily of value.
Re the Google results: You should always use quotation marks when doing the Google research, i.e. "weird al", in which case you get 3,440,000 results for weirdal and only 121,000 for "hip hop dancing". 121,000 is generally too low, but luckily the OVT results are good.
Still, the .name extension makes me very suspicious. I would not give weirdal.name even reg fee at this moment. I don't know whether the search engines penalize the .name extension or not, but you don't really see a lot of .name domains in the SERPs. Anyway, I haven't seen any significant .name sales anywhere, or any for that matter. maybe I just haven't looked hard enough. Anyone?
I see that weirdal.biz is still available - although I agree that the .name extension suits the domain name very well, still I wonder which would be better?
If you develop weirdal.name into a fan site/ weird al resources + forum site, and start getting decent traffic, then of course your domain will gain value, and maybe even an income stream for you. Honestly, I doubt it though. The OVT bids are probably not high (didn't check)
Go for not only high OVT and high Google, but high bids as well (as a rule, but rules are meant to be broken)
Hiphopdancing.info is a nicer domain name. Right now, reg fee, but this one might be worth developing, or you could try to sell it to a dance school or something for a couple hundred $.
PS Be wary of TM issues when registering celeb names. Many do not pursue TM issues, and maybe a bona fide fan site would not get in trouble. That in mind, WeirdAlYankovic.us is available, so if you feel TM adventurous, that would be a much better domain name for a fan site IMO