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($45 value)
you can get a domain reseller for enom through domainguru and there is only a $40 application fee and the initial $495 deposit isnt necessary but you need at least $100 deposited to start registering.
You can get a enom reseller account form any other enom reseller. I have an account at the $6.95 level in enom and so I can create sub resellers at the $8.95 level for free. To get to the $6.95 level yourself, you'd need to invest over $2000 in a deposit on your enom account. To become a direct register with the NIC you'd need to invest even more than that.
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Tucows OpenSRS is not such an expensive option to start selling domains. They just sell them quite expensive to you ($10 for gTLD's). With registrars offering domain name registration under $7, you have little chance of making a serious profit from selling them.
try godaddy.com ... i think you can get good deal with them with a little upfrint money to put in ... you'll get the api et al ... so it will be a plug and play setup.