phranque - 8:35 am on Oct 10, 2012 (gmt 0)

when It gets that in-content link, it automatically stores the NEW URL in it's database as there is already a redirect in place

it keeps the NEW URL in the index but it also keeps the OLD URL in the crawl database because it doesn't trust the 301 immediately, while and especially because you are linking to the OLD URL in-content.