Considering that value is an abstract concept - ie, ultimately (in usual business dealings), its determined by how I "vote" with my dollars and not some empirical physical rule, I think the concept of "fair market value" in the case of eminent domain is a complete sham, much like property taxes based on fair market value. If I haven't made any monetary choices and someone else has decided those choices for me, there is no value whatsoever.

Not that it really matters in the scope of the legal world, it's more of a philosophical argument, but its something thats constantly pissed me off about eminent domain, easements and property taxes.