CainIV - 1:54 am on Sep 15, 2009 (gmt 0)

Absolutely redirect it to the new website if the content is related enough. Hyphenated domains are fine, except that they are poor for branding. I built one out years back, and then stuck with it. It finally got very popular, and was very tough to brand, as people couldn't find the website by typing it in, and noone wants to type in hyphens.

I would look for another domain to build the revised content and look and feel, and 301 redirect from old pages to new.