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That site was originally in a subdirectory of a domain site, and I moved it to space on my ISP. Everything was fine all over, including Google crediting the old backlinks for the new location and rankings and PR stayed just fine.
Then I moved the domain site to a new host - different IP number (old and new were virtual). Google stayed ok, but Ink's still a problem.
I could be wrong, but I don't have total confidence with Inktomi & 301's. Google is no problem ever.