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Length of Registration

Does it really matter how long you have a site? 1 year vs 5+ years for example. Google has their patent application put in (United States Patent Application 20050071741) from back in March '05 that mentioned using the length of registration/existance(?) time to help fight spam. Most portal pages have a short shelf life and most are only registered on a year to year basis.

How should that affect the public in general? Lets say you are starting out as perhaps a freelance web designer. You pick out a catchy domain and put up a really cool web site. Should you be punished if you only register a domain for 1 year?

*Thinks that the domain registration companies had some lobbying done on this*

My personal site has been up since around 2000. It is fairly established and just in the normal course of usage has gotten itself ranked and linked to over the years. I haven't put a lot of work into any kind of optimization because I have been working on too many other peoples sites. How would I feel if I had to start from scratch and face this?

Frankly, there hasn't seemed to be a lot of impact with this actually coming into play. I could have a site up and indexed in just a couple days if I really wanted to. The length of registration factor looks and acts like such a miniscule part of the ranking algorithms that I wouldn't worry about it if you have a ligitimate web site. Just do good optimization and publishing techniques to get those quality link backs.