Spammy domains have been known to overuse the Hyphen... but using Hyphens does not make you spammy
Matt Cutts had previously stated that Google recognizes the Hyphen as a separator and the Underscore as a connector... i.e. "red-wigdets" gets read as "red widgets" while "red_widgets" gets read as "redwidgets". For keyword purposes, a hyphen is technically better but the difference is likely negligible. Also keep in mind the EMD update. If your core term is "cheap red widgets" and your domain URL features "cheap-red-widgets" then the EMD has made the previous positive name correlation into a less powerful signal.
Matt Cutts 2011 Underscore vs Dashes in URLs video http://youtu.be/AQcSFsQyct8
Matt Cutts 2009 Underscores or Hyphens in URLs video http://youtu.be/Q3SFVfDIS5k
Matt Cutts 2005 Dashes vs. Underscores blog post http://www.mattcutts.com/blog/dashes-vs-underscores/