While using 2checkout, I want to know whether most of the companies are creating their product as "Recurring Product"

Depends on the product. If you're selling web hosting for example, and it's on a monthly term, it makes sense to do that. :)

We do hosting as a reoccuring product and all domain registrations as a one time deal. When renewal comes around we just send an email or contact via voice. This is the simplest most cost effective way. Rather than having to hunt down customers every month. If someone closes and account you can simply stop the monthly billing.