Yeah, I mean, the idea is great. I think I will adopt some version of it for my "not so important" passwords. But i will continue using unique, random passwords for important things like banking, webserver, PGP and so on. Because if you are using the domain name in your formula, it is fairly easy for a human being to guess the pattern, I think.

And of course, reliable admins will hash the password right away. So nobody would ever see the plain password. But you never know if they are see more reliable. Okay, sounds a bit paranoid. Never mind.